Cash App fined $255 million in back-to-back settlements
Cash App is closing out the week on the hook for $255 million in multiple settlements around its consumer protections. Block, the company that owns Cash App, agreed Wednesday to pay $80 million to 48 states that fined the company for violating laws intended to keep illicit activity off the platform.
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 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.
Block to Pay $175 Million for Cash App Customer Service Failures
Jack Dorsey’s Block Inc. will pay up to $175 million for failing to investigate and protect Cash App customers from fraudulent transactions under a settlement with the Consumer Financial Protection Bureau.
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.
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.
Cash App parent company agrees to $80M settlement
Block Inc., developer of the popular Cash App digital wallet, agreed to pay $80 million for violating money-laundering and other regulations, the Maine Bureau of Consumer Credit Protection announced Wednesday.
New Mexico to get $1.6M from settlement with Cash App parent company
The parent company of Cash App will pay around $1.6 million to New Mexico to settle claims that the company wasn't doing enough to prevent its services from being used for illegal activities.
Bay Area company ordered to pay at least $75 million to wronged Cash App customers
Poor customer service is irritating and exhausting. And for Oakland-based Block, which operates the popular Cash App and Square products, it’s also proving to be expensive. The financial tech company is required to pay at least $75 million to Cash App customers and $55 million to a government-run penalty fund under a Thursday order from the Consumer Financial Protection Bureau.
Cash App owner failed 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 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.
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.
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 ...
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 ...
ND Department of Financial Institutions joins settlement against Block Inc. Cash App
The North Dakota Department of Financial Institutions has joined 48 other state financial regulatory agencies in taking ...
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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, ...
How To Delete Your Cash App Account Permanently
To erase your Cash App account, first transfer your funds to your linked bank account. Then, within the app, select “Profile, ...