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CFPB, Block and Cash App
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.
Block's Cash App Ordered to Pay $175 Million by CFPB Over Fraudulent Transaction Handling
Cash App's parent company Block must pay up to $175 million after a CFPB crackdown on fraudulent transaction handling.
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.
American Banker
2h
CFPB orders Equifax to pay $15 million for credit reporting errors
Equifax agreed to resolve allegations that it failed to conduct proper investigations of consumer disputes, ignored evidence ...
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 ...
cryptopolitan
15h
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.
American Banker
3h
Big Tech companies challenge CFPB's attempt to police them
Organizations that represent Amazon, Apple, Meta, PayPal, OpenAI and many other large technology companies accuse the consumer watchdog, which has given itself authority over companies that facilitate ...
Stocktwits on MSN
1d
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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Cash App
United States
Consumer Financial Protection Bureau
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