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The company must also pay a fine of $55 million into the CFPB's victims relief fund. "Cash App created the conditions for fraud to proliferate on its popular payment platform," CFPB Director Rohit ...
The Consumer Financial Protection Bureau announced the step saying it had determined services offered by Google Payment had posed a risk to consumers. The regulator's step and the subsequent ...
The Consumer Financial Protection Bureau (CFPB) an independent federal agency responsible for consumer financial protections, issued an order last week for Block, Cash App's parent company, to ...
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 ...
As part of the action, Block will pay up to $120 million in refunds to consumers, set up a 24-hour customer service program, and pay a $55 million fine. The CFPB's lawsuit comes on the tails of a ...
The Consumer Financial Protection Bureau on Thursday issued a finalized version of a rule saying it will soon supervise nonbank firms that offer financial services likes payments and wallet apps ...
The access raises uncomfortable questions if Musk’s company X launches a payments system as the CFPB has data on competitors such as Cash App, the person said. Vought's email follows a similar directive from Treasury Secretary Scott Bessent Feb. 3 and is the latest move by the Trump administration to rapidly curtail the work of federal ...
The sudden halt of work has a swath of consequences: it leaves much of consumer finance, from mortgage companies to payment apps, unsupervised, and removes a venue where consumers could file ...