CFPB, Cash App

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,
Cash App to pay $120 million to fraud victims, CFPB says
The owner of Cash App has been ordered to pay up to $120 million to victims of fraud on its payments platform on top of a $55 million fine, the Consumer Fi
CFPB Orders Cash App Operator to Compensate Consumers Over Fraudulent Payments
CFPB said Block employed weak security protocols for payments platform Cash App and put its users at risk. It added that Block is required by law to investigate and resolve disputes about unauthorized transactions but that its investigations were incomplete.
Tech groups sue US CFPB to block rule on payment apps, digital wallets
Two technology trade groups sued the U.S. Consumer Financial Protection Bureau on Thursday to block a new rule giving the regulator supervisory authority over payment apps and digital wallets from large non-banks.
Tech Trade Groups Sue to Block CFPB Rule Targeting Apple, Google
A pair of trade groups representing Meta Platforms Inc., Apple Inc., and Google parent Alphabet Inc. sued to block a Consumer Financial Protection Bureau rule that would bring those companies’ payment operations under the agency’s supervision.
Block agrees to pay $120 million in refunds to resolve Cash App fraud
The Consumer Financial Protection Bureau announced the order on Thursday in the waning days of the Biden administration.
Cash App parent fined up to $175 million for 'woefully incomplete' response to fraud
The Consumer Financial Protection Bureau ordered Cash App (SQ) operator Block to pay a total of up to $175 million for failing to address fraud on the mobile payment network.
Cash App operator Block to pay $175 million for fraud failures
Today, the Consumer Financial Protection Bureau (CFPB) imposed a penalty on Block, the operator of the Cash App, for its failure to effectively address fraud on its platform. The company has been ordered to pay a total of $175 million,
Billions of dollars for millions of Americans: why 'delete the CFPB' might not fly
Elon Musk, Trump’s new presidential advisor, tweeted in early November “Delete CFPB. There are too many duplicative ...
JD Supra1h
CFPB re-establishes regulatory sandbox, no-action letter programs
In an effort to foster innovation in financial services, the CFPB is reinstituting its programs that allow companies to obtain regulatory safe ...
American Banker17h
Trump team eyes hiring freeze, regulatory rollbacks for CFPB
The incoming Trump administration's 'agency review team' has landed and is expected to name an acting director of the ...