The money transferring app, owned by Jack Dorsey’s Block Inc., is accused of “allow[ing] fraud to proliferate” by the Consumer Financial Protection Bureau.

Block Inc. was fined by dozens of state regulators and then ordered by the Consumer Financial Protection Bureau to refund consumers in two separate settlements in the last 24 hours over Cash App. The CFPB Thursday ordered Block,

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 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

The parent company of Cash App has been ordered to pay up to $120 million to fraud victims, in addition to a $55 million penalty. Here's what to know.

The Consumer Financial Protection Bureau announced the order on Thursday in the waning days of the Biden administration.

Poor customer service is irritating and exhausting. And for Oakland-based Block, which operates the popular Cash App and Square products, it’s also proving to be expensive. The financial tech company is required to pay at least $75 million to Cash App customers and $55 million to a government-run penalty fund under a Thursday order from the Consumer Financial Protection Bureau.

Cash App-owner Block must offer up to $120 million in refunds to consumers who federal regulators say were exposed to potential fraud.

Today, Block, Inc., the parent company of Cash App, agreed to pay $175 million after the Consumer Financial Protection Bureau accused the company of several unfair customer practices and Customer Financial Protection Act violations.

Oregon will get a $1.6 million share of an $80 million fine that Cash App parent company Block will pay for violations of bank secrecy and anti-money laundering laws. In addition to the $80 million fine,