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Cash App, CFPB and Block

The Verge on MSN · 4h

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.

Hosted on MSN · 1d

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.

2h

Tech Lobbyists Are Mad Feds Want to Regulate Digital Payment Apps Like Banks

After a fintech startup recently lost its users funds, it is hard to find sympathy for tech companies seeking loosened ...

1don MSN

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 ...

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