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Cash App-owner Block must offer up to $120 million in refunds to consumers who federal regulators say were exposed to potential fraud.
In fact, complaints of fraud on Cash App have increased a whopping 472 percent during the pandemic, according to the Federal Trade Commission. Some fraudsters create fake grant or relief programs ...
The government agency argued that one of Block's portfolio companies, the leading peer-to-peer payments service Cash App, had allowed rampant fraud while misleading its customers. The settlement ...
Cash App customers may be able to claim more than $2,500 each as part of a $15 million class-action settlement for data and security breaches at the mobile payment service.
The parent company of mobile banking platform Cash App has been ordered to pay $175 million to users due to weak security procedures, a federal agency says.. The Consumer Financial Protection ...
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Block had engaged in widespread and years-long compliance lapses at Square and Cash App, including by failing to conduct basic due diligence regarding its customers’ identities or the nature of ...
Cash App (formerly Square Cash) is a digital wallet for American consumers. [2] Launched by Block, Inc. in 2013, it allows users to send, receive or save money, access a debit card, invest in stocks or bitcoin, [3] apply for personal loans, [4] and file taxes. [5] As of 2024, Cash App reports 57 million users and $283 billion in annual inflows ...
(Reuters) -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 ...