Block Agrees to Pay CFPB Fines Over Cash App’s Alleged Sloppy Fraud Prevention
The CFPB is also ordering Block to fix Cash App’s customer service and its processes for investigating disputed transactions, in part by setting up 24-hour, live-person customer service. The order requires Block to fully investigate unauthorized transactions and to provide timely refunds when appropriate.
And others were not provided provisional credits during a delayed investigation. The CFPB said Block must pay a minimum amount of $75 million in refunds and other redress to harmed consumers.
Equifax agreed to resolve allegations that it failed to conduct proper investigations of consumer disputes, ignored evidence ...
Technology trade groups TechNet and NetChoice filed a lawsuit on Jan. 16 to challenge the CFPB's regulatory approach.
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Consumer Finance Watchdog Asks Block To Pay $175M Over Cash App Deficiencies: Retail Remains UnfazedThe Consumer Financial Protection Bureau (CFPB) has ordered Block Inc., the operator of peer-to-peer payments app Cash App, ...
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