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,
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 parent will pay $255 million in bank secrecy and fraud settlement, Oregon will get a share
Oregon will get a $1.6 million share of an $80 million fine that Cash App parent company Block will pay for violations of bank secrecy and anti-money laundering laws. In addition to the $80 million fine,
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,
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.
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 parent fined $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.
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, in part by setting up 24-hour, live-person customer service. The order requires Block to fully investigate unauthorized transactions and to provide timely refunds when appropriate.
Rhode Island among states to receive money from Cash App $80 million fine
The Rhode Island Department of Business Regulation and 47 other state agencies are set to receive their part of an $80 million fine agreed to by Block, Inc., operator of Cash App.
Cash App to pay $80 million penalty to Iowa, 47 other states
DES MOINES, Iowa – The Iowa Division of Banking is part of a deal reached with the creators of Cash App for violations of Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use.
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.
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 ...
Arkansas joins $80M enforcement action against Cash App parent company
ARKANSAS, USA — Arkansas and 47 state financial regulatory agencies have taken coordinated action against Block, Inc., for ...