Cash App: CFPB consent order (Jan 2025)
The CFPB issued a consent order against Cash App on January 16, 2025, according to the agency’s own announcement.
- Date
- Agency
- CFPB
- Action
- Consent order
- Amounts (as stated)
- $175 million total: up to $120 million redress (at least $75 million) plus $55 million penalty
The CFPB found Block failed to investigate and resolve unauthorized Cash App transactions as required, pushed users to their banks’ chargeback processes, used weak security and suppressed users from getting help, and misrepresented its fraud protections.
Money involved. $175 million total: up to $120 million redress (at least $75 million) plus $55 million penalty; penalty: $55 million civil money penalty.
Questions
What did the CFPB say Cash App did?
The CFPB found Block failed to investigate and resolve unauthorized Cash App transactions as required, pushed users to their banks’ chargeback processes, used weak security and suppressed users from getting help, and misrepresented its fraud protections.
How much is Cash App paying?
$175 million total: up to $120 million redress (at least $75 million) plus $55 million penalty.
See every action in the fintech and crypto enforcement tracker.
- Company (as named)
- Block, Inc. (Cash App)
- Category
- Payments
- Civil penalty, USD
- $55,000,000
- Agency announcement
- consumerfinance.gov
- Order or complaint
- files.consumerfinance.gov
- Sources
Source Link CFPB announcement https://www.consumerfinance.gov/about-us/newsroom/cfpb-orders-operator-of-cash-app-to-pay-175-million-and-fix-its-failures-on-fraud/ date https://www.consumerfinance.gov/enforcement/actions/block-inc/
Source: the agency’s own press release, litigation release, order or complaint, linked on each record. Charges are allegations; a company is not liable unless a court or agency finds it so.