The company must also pay a fine of $55 million into the CFPB's victims relief fund. "Cash App created the conditions for fraud to proliferate on its popular payment platform," CFPB Director Rohit ...

Block, the owner of Cash App that has more than 56 million accounts, had weak security protocols that allowed fraud to thrive on its platform, the financial regulator said. The CFPB said law ...

Cash App has agreed to pay a minimum of $75 million and up to $120 million to Cash App users who suffered fraud and another $55 million to the CFPB’s victim’s relief fund. The CFPB alleges that while ...

CFPB says Block deployed weak security protocols on Cash App Block ordered to pay up to $120 mln as compensation, $55 mln penalty Company says it disagrees with regulator's 'mischaracterizations ...

The CFPB order pointed out that Cash App failed to provide live customer support from 2016 until February 2021. “Cash App created the conditions for fraud to proliferate on its popular payment ...

The company must also pay a fine of $55 million into the CFPB's victims relief fund. "Cash App created the conditions for fraud to proliferate on its popular payment platform," CFPB Director Rohit ...

Cash App users who were victims of fraud were allegedly directed by Block to ask their banks to reverse the charges – "which Block would subsequently deny," the CFPB said. The parent company of ...

"When things went wrong, Cash App flouted its responsibilities and even burdened local banks with problems that the company caused," said CFPB Director Rohit Chopra. In response, Block said the ...