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 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.
Cash App owner to pay up to $175 million for failing 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 to pay $120 million to fraud victims, CFPB says
The owner of Cash App has been ordered to pay up to $120 million to victims of fraud on its payments platform on top of a $55 million fine, the Consumer Fi
Cash App parent company to pay up to $120 million to fraud victims, feds say
The parent company of Cash App has been ordered to pay up to $120 million to fraud victims, in addition to a $55 million penalty. Here's what to know.
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
Cash App to pay back millions to customers over fraud issues
"Women LOVE when you pay attention to this." Sen. Sheldon Whitehouse (D-R.I.) said statements in President Biden’s farewell speech came much too late in a Thursday statement, raising question with the commander in chief’s parting remarks.
Cash App owner Block to pay $175M over fraud caused by lax consumer protections
Block, the owner of Cash App and Square, will pay $175 million to settle allegations that its lax consumer protection practices put customers at high risk of fraud, the Consumer Financial Protection Bureau said.
Cash App Users To Get Refunds In $175M Order As Feds Target Fraud
Cash App's parent company will have to pay $175 million for poorly protecting its users from fraud and financial crimes on the payment platform, officials said.The Consumer Financial Protection Bureau ordered Block to refund up to
Trump Should Remake The CFPB Into The Consumer Fraud Protection Bureau
The root of the CFPB’s ineffectiveness is that it believes regulation is the way to fix the banking industry’s problems. To ...
CFPB Fines CashApp $175 Million for Allegedly Mishandling Fraud Claims
If you lost money to scammers or had your account frozen on a popular peer-to-peer payment platform, you might be due for a ...
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What Is the Consumer Financial Protection Bureau?
The Consumer Financial Protection Bureau, or CFPB, is a government agency that oversees the consumer finance industry, ...
Major bank accused of fraud, cheating customers out of billions
A federal watchdog has sued Capital One. The watchdog has accused the major bank of fraud, thus cheating customers out of ...
US consumer bureau fines Equifax $15 million over handling of consumer disputes
The U.S. Consumer Financial Protection Bureau announced on Friday it had fined credit reporting bureau Equifax $15 million ...
Experian credit bureau sued for allegedly failing to properly probe consumer complaints
Experian was sued by the Consumer Financial Protection Bureau, which accused the Costa Mesa-based credit bureau of failing to ...