CFPB, Cash App

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,
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
CFPB Orders Cash App Operator to Compensate Consumers Over Fraudulent Payments
CFPB said Block employed weak security protocols for payments platform Cash App and put its users at risk. It added that Block is required by law to investigate and resolve disputes about unauthorized transactions but that its investigations were incomplete.
Tech groups sue US CFPB to block rule on payment apps, digital wallets
Two technology trade groups sued the U.S. Consumer Financial Protection Bureau on Thursday to block a new rule giving the regulator supervisory authority over payment apps and digital wallets from large non-banks.
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, to pay $175 million in refunds, compensation, and penalties for certain deficiencies.
CFPB sued for trying to regulate digital payment apps more like banks
Two major tech trade groups are challenging the Consumer Financial Protection Bureau’s (CFPB) effort to treat payment apps ...
JD Supra2h
CFPB Issues a Roadmap for States Days Before Trump Takes Office
As the Consumer Financial Protection Bureau (CFPB or Bureau) anticipates a shift in its leadership with the incoming administration of ...
American Banker17h
Trump team eyes hiring freeze, regulatory rollbacks for CFPB
The incoming Trump administration's 'agency review team' has landed and is expected to name an acting director of the ...
Tech Trade Groups Sue to Block CFPB Rule Targeting Apple, Google
A pair of trade groups representing Meta Platforms Inc., Apple Inc., and Google parent Alphabet Inc. sued to block a Consumer ...
JD Supra30m
CFPB Bites of the Month - 2024 Annual Review - Auto
On April 30, 2024, the CFPB released a report on price complexity.The report addressed the CFPB's research into how complex pricing options can impact consumer decision making.Participants in the ...
American Banker1d
CFPB releases guidance documents as blueprint for states
The Consumer Financial Protection Bureau released recommendations on how states can beef up enforcement after the Trump ...