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CFPB, Cash App and Block

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.

Reuters on MSN · 1d

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,

American Banker2h

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 ...

cryptopolitan14h

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.

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