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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.
CFPB orders Cash App parent Block to pay $175M for fraud failures
The Consumer Financial Protection Bureau ordered Block (NYSE:SQ) to pay restitution of up to $120M and a penalty of $55M over alleged weak security protocols for its Cash App, the agency said on Thursday.
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
Stocktwits on MSN
14h
Consumer Finance Watchdog Asks Block To Pay $175M Over Cash App Deficiencies: Retail Remains Unfazed
The Consumer Financial Protection Bureau (CFPB) has ordered Block Inc., the operator of peer-to-peer payments app Cash App, ...
NerdWallet
2d
What Is the Consumer Financial Protection Bureau?
The Consumer Financial Protection Bureau, or CFPB, is a government agency that oversees the consumer finance industry, ...
JD Supra
1d
CFPB Introduces New Rule Banning Certain Contractual Provisions in Consumer Financial Agreements
The Consumer Financial Protection Bureau (CFPB or Bureau) proposed a new rule aimed at banning certain contractual provisions in agreements ...
2d
on MSN
Consumer bureau sues Capital One for ‘cheating’ customers on savings account interest
The government’s consumer watchdog sued Capital One on Tuesday for “cheating” customers out of billions in interest payments.
The National Law Review
1d
What the Future May Hold for the Consumer Financial Protection Bureau's Open Banking Rule
Will the Consumer Financial Protection Bureau’s (CFPB) recently promulgated open banking rule survive under the new Congress ...
JD Supra
1d
CFPB Releases Report Highlighting Consumer Use of Buy Now, Pay Later Products
On January 13, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report providing its analysis of the growth and impact of Buy ...
Los Angeles Times
9d
Experian credit bureau sued for allegedly failing to properly probe consumer complaints
Experian, one of the nation’s largest credit bureaus, was sued Tuesday by the
Consumer Financial Protection Bureau
for allegedly improperly handling
consumer
disputes, which could lead to lower ...
9d
on MSN
Experian accused of failing to properly investigate consumer disputes
A top watchdog agency for consumer finance has accused the credit rating company Experian of failing to properly investigate ...
2d
Consumer watchdog sues Capital One for allegedly 'cheating' customers out of interest payments
Capital One is defending itself from the CFPB's claims that it cheated customers out of billions of dollars in interest ...
CoinDesk
6d
Biden's Consumer Watchdog Pushes for Last-Minute Stablecoin Rule
The Consumer Financial Protection Bureau proposed a crypto rule just days before Donald Trump takes the White House and can ...
3d
No magic ‘wand’ for the GOP in scrapping consumer rules
A flurry of recent actions by the Consumer Financial Protection Bureau has left Republicans seething about “midnight ...
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