2025-01-16
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.
Per the CFPB, Cash App's Terms of Service at one point claimed that any bank linked to an account for transferring funds was respon [...]
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