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,
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 and digital wallets like banks. In a lawsuit filed in federal court in Washington,
CFPB Fines CashApp $175 Million for Allegedly Mishandling Fraud Claims
If you lost money to scammers or had your account frozen on a popular peer-to-peer payment platform, you might be due for a refund.
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.
CFPB orders Cash App to pay $175 million for fraud failures
Cash App's parent company Block failed to investigate fraud and unauthorized transactions, and refused to refund customers, the Consumer Financial Protection Bureau said.
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 Financial Protection Bureau rule that would bring those companies’ payment operations under the agency’s supervision.
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.
American Banker4h
CFPB withdraws NSF proposal and earned wage access opinion
The Consumer Financial Protection Bureau rescinded a proposed rule on nonsufficient funds fees and a 2020 advisory opinion on ...
You could save $200 per year thanks to the CFPB’s new cap on overdraft fees
The banking industry is less than thrilled, and plans to make up the difference with new fees.
JD Supra9h
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 ...
Billions of dollars for millions of Americans: why 'delete the CFPB' might not fly
Elon Musk, Trump’s new presidential advisor, tweeted in early November “Delete CFPB. There are too many duplicative ...
Capital One sued over deceptive savings rates
The Consumer Financial Protection Bureau alleged Tuesday the bank obscured an account from customers that paid a rate 14 ...
JD Supra7h
CFPB sues real estate company and independent real estate brokerage group for alleged RESPA violations
Recently, the CFPB filed a complaint in the U.S. District Court for the Eastern District of Michigan against a real estate company, and an ...
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Capital One faces US CFPB lawsuit over $2bn in unpaid interest
US-based bank Capital One is facing legal proceedings from the US Consumer Financial Protection Bureau (CFPB) for ‘cheating’ ...
Cash App customers to see refunds after $175 million settlement
Cash App's parent, Block Inc., settled two regulatory actions, one with the Consumer Financial Protection Bureau and another ...