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Cash App, CFPB

Hosted on MSN · 17h

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.

Reuters on MSN · 21h

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. The regulator said Block,

YAHOO!Finance · 2h

Block fined over weak Cash App security controls

According to CFPB, Block's security protocols for Cash App were insufficient, exposing users to potential fraud.

3d

Tech Groups Sue to Block CFPB Rule Targeting Apple, Google (2)

A pair of trade groups representing Facebook parent Meta Platforms Inc., Apple Inc., and Google parent Alphabet Inc. sued to ...

cryptopolitan7h

US consumer finance watchdog faces lawsuit for classifying digital wallets as banks

Technology trade groups TechNet and NetChoice filed a lawsuit on Jan. 16 to challenge the CFPB's regulatory approach.

Stocktwits on MSN21h

Consumer Finance Watchdog Asks Block To Pay $175M Over Cash App Deficiencies: Retail Remains Unfazed

The Consumer Financial Protection Bureau (CFPB) has ordered Block Inc., the operator of peer-to-peer payments app Cash App, ...

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