CFPB, Cash App

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 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.
Cash App parent fined up to $175 million for 'woefully incomplete' response to fraud
The Consumer Financial Protection Bureau ordered Cash App (SQ) operator Block to pay a total of up to $175 million for failing to address fraud on the mobile payment network.
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.
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.
CFPB Fines CashApp $175 Million for Allegedly Mishandling Fraud Claims
Key Takeaways The Consumer Financial Protection Bureau has fined popular peer-to-peer payment platform Cash App for failing to protect customers from fraud and failing to investigate fraud complaints.
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.
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.
Trade associations sue US CFPB over payment supervision
The trade groups argue that Congress did not empower CFPB to supervise large non-banks offering consumer financial services.
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Bank groups sue CFPB over rule to limit overdraft fees
13 (UPI) --Banking groups said they plan to sue the federal Consumer Financial ... The groups said the final rule introduced by the CFPB on Thursday, "exceeds its regulatory authority." ...
US consumer finance watchdog sued for treating digital wallets like banks
TechNet and NetChoice have sued the Consumer Financial Protection Bureau, challenging a rule that gives the regulator more ...
Tech Groups Sue to Block CFPB Rule Targeting Apple, Google (2)
A pair of trade groups representing Facebook parent Meta Platforms Inc., Apple Inc., and Google parent Alphabet Inc. sued to ...
Atlanta Journal-Constitution1mon
Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees
Some banks and banking trade groups are suing the Consumer Financial ... according to data from the CFPB and bank public records. Currently, there is no cap on the overdraft fees that banks ...
Becker's Hospital Review8d
Groups sue to block CFPB's medical debt credit reporting ban
Trade groups file lawsuit against CFPB over new rule banning medical debt from credit reports, arguing it exceeds statutory authority.
Al Bawaba News1mon
Bank groups set to sue CFPB due to rule to limit overdraft fees
Banking groups said they plan to sue the federal Consumer Financial Protection ... The groups said the final rule introduced by the CFPB on Thursday, "exceeds its regulatory authority." ...