Cash App fined $255 million in back-to-back settlements
Cash App is closing out the week on the hook for $255 million in multiple settlements around its consumer protections. Block, the company that owns Cash App, agreed Wednesday to pay $80 million to 48 states that fined the company for violating laws intended to keep illicit activity off the platform.
Cash App Ordered to Pay $255 Million in Penalties Over Fraud
The transfer-money app, owned by Jack Dorsey’s Block, racked up a hefty bill of fines and restitution for what federal regulators called “woefully incomplete” customer protections.
Cash App Owner Hit With Fines in Back-to-Back Settlements
Block Inc. was fined by dozens of state regulators and then ordered by the Consumer Financial Protection Bureau to refund consumers in two separate settlements in the last 24 hours over Cash App. The CFPB Thursday ordered Block,
CFPB fines Block $175m over Cash App's lax fraud controls
The Consumer Financial Protection Bureau (CFPB) announced today that's it's fining Block, the creator of Cash App and parent company of Square, $120 million in "refunds and redress" and a $55 million fine for how the company handled fraud on its payment platform.
US CFPB fines Cash App-parent Block over insufficient fraud protection
The Consumer Financial Protection Bureau on Thursday ordered payments firm Block to pay a penalty, citing fraud and weak security protocols on its mobile payment service Cash App.
Cash App parent company to pay up to $120 million to fraud victims, feds say
The parent company of Cash App has been ordered to pay up to $120 million to fraud victims, in addition to a $55 million penalty. Here's what to know.
48 states hit Cash App operator with a $80m fine
Each state will receive $1.6 million from the settlement, according to the R.I. Department of Business Regulation.
New Mexico to get $1.6M from settlement with Cash App parent company
The parent company of Cash App will pay around $1.6 million to New Mexico to settle claims that the company wasn't doing enough to prevent its services from being used for illegal activities.
Cash App customers to see refunds after up to $175 million settlement
Cash App's parent, Block Inc., settled two regulatory actions, one with the Consumer Financial Protection Bureau and another with state agencies.
Cash App owner failed to protect customers from fraud, feds say
Cash App-owner Block must offer up to $120 million in refunds to consumers who federal regulators say were exposed to potential fraud.
CashApp Fined $175 Million for Not Stopping Fraud. Find Out if You're Eligible for a Payment
Today, Block, Inc., the parent company of Cash App, agreed to pay $175 million after the Consumer Financial Protection Bureau accused the company of several unfair customer practices and Customer Financial Protection Act violations.
Cash App owner to pay up to $175 million for failing to protect customers from fraud, feds say
Cash App-owner Block must offer up to $120 million in refunds to consumers who federal regulators say were exposed to ...
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How a useless customer service number got Cash App in big trouble with regulators
The Consumer Financial Protection Bureau says Cash App did not provide an in-person helpline, a failure that scammers were ...