CFPB, Cash App

CFPB sued for trying to regulate digital payment apps more like banks
Two major tech trade groups are challenging the Consumer Financial Protection Bureau’s (CFPB) effort to treat payment apps and digital wallets like banks. In a lawsuit filed in federal court in Washington,
CFPB orders Cash App to pay $175 million for fraud failures
Cash App's parent company Block failed to investigate fraud and unauthorized transactions, and refused to refund customers, the Consumer Financial Protection Bureau said.
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.
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,
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.
US consumer finance watchdog orders payments firm Block to pay $175 million
The Consumer Financial Protection Bureau (CFPB) on Thursday ordered payments firm Block to pay a penalty tied to the operations of its peer-to-peer payments network CashApp. The order includes a redress to consumers of up to $120 million and a penalty of $55 million into the CFPB's victims relief fund.
US consumer finance watchdog fines payments firm Block over Cash App operations
The Consumer Financial Protection Bureau (CFPB) 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,
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CFPB withdraws NSF proposal and earned wage access opinion
The Consumer Financial Protection Bureau rescinded a proposed rule on nonsufficient funds fees and a 2020 advisory opinion on ...
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 ...
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CFPB Issues a Roadmap for States Days Before Trump Takes Office
As the Consumer Financial Protection Bureau (CFPB or Bureau) anticipates a shift in its leadership with the incoming administration of ...
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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 ...
You could save $200 per year thanks to the CFPB’s new cap on overdraft fees
As part of an ongoing effort to combat “junk fees” charged by banking institutions, the Consumer Financial Protection Bureau ...
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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 ...