CFPB: Block, Cash App fraud handling consumer protection case
US Consumer Financial Protection Bureau · decided Jan 16, 2025 · Settled
The CFPB found Block used weak security for Cash App and failed to properly investigate and resolve disputes over unauthorized transactions.
The case
- Against
- Block, Inc.
- Regulator
- US Consumer Financial Protection Bureau
- Decided
- Jan 16, 2025
- Status
- Settled
- Outcome
- The CFPB ordered Block to provide up to USD 120 million in consumer redress and pay a USD 55 million penalty.
- Amount
- $175 million
History
1 dated entry| Date | Entry | ||
|---|---|---|---|
| Jan 16, 2025 | Decision: CFPB: Block, Cash App fraud handling | Decision | Link |