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 potential fraud.
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,
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.
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.
CashApp Fined $175 Million for Not Stopping Fraud. Find Out if You're Eligible for a Payment
The CFPB ordered Block to update its business practices to comply with the law, pay between $75 and $120 million to users whose unauthorized transfers weren't investigated and send a $55 million penalty to the CFPB's victim relief fund. Block agreed to the settlement but disagreed with the CFPB's characterizations of the company's actions.
Cash App parent will pay $255 million in bank secrecy and fraud settlement, Oregon will get a share
The state’s financial regulators joined 47 others in taking against Cash App’s parent company for violations of bank secrecy and anti-money laundering laws.
NM to receive $1.6M as part of Cash App settlement
Block violated the Bank Secrecy Act and anti-money laundering laws aimed at safeguarding the financial system from illicit use, officials said.
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 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.
Cash App fined $255 million in back-to-back settlements
The money transferring app, owned by Jack Dorsey’s Block Inc., is accused of “allow[ing] fraud to proliferate” by the Consumer Financial Protection Bureau.
Wisconsin joins multi-state suit against owner of Cash App
Wisconsin’s financial regulatory agency announced Thursday that it has joined a lawsuit against Block Inc., the owner of Cash App, for violations of laws, including anti-money laundering regulations.
Block agrees to pay up to $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.
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Block Agrees to Pay CFPB Fines Over Cash App’s Alleged Sloppy Fraud Prevention
The CFPB is also ordering Block to fix Cash App’s customer service and its processes for investigating disputed transactions, ...
State Regulators Issue $80 Million Penalty to Block, Inc., Cash App for BSA/AML Violations
Washington, D.C., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Washington, D.C .— In a coordinated enforcement action by 48 state financial regulators, Block, Inc. will pay an $80 million fine and undertake ...
US state regulators fine Block Inc $80 million for insufficient money laundering controls
Block Inc has agreed to pay a fine of $80 million to a group of 48 state financial regulators after the agencies determined ...