“Cash App created the conditions for fraud to proliferate on its popular payment platform,” said CFPB Director Rohit Chopra. “When things went wrong, Cash App flouted its responsibilities ...

Two major tech trade groups are challenging the Consumer Financial Protection Bureau’s (CFPB) effort to treat payment apps and digital wallets like banks. In a lawsuit filed in federal court in ...

"When things went wrong, Cash App flouted its responsibilities and even burdened local banks with problems that the company caused," said CFPB Director Rohit Chopra. In response, Block said the ...

Cash App, a popular platform used to transfer money, faces paying out up to $120 million in refunds and other redress to harmed customers, plus $55 million in penalties, relating to its troubling ...

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The CFPB failed to show that digital payment companies subject to the agency’s “larger participant” rule posed a risk to consumers as required under the 2010 Dodd-Frank Act, TechNet and NetChoice LLC ...

The CFPB alleged that Block's (NYSE:SQ) Cash App had closed cases of reported fraud without opening a legally required investigation. Block allegedly directed users who incurred financial losses ...

NetChoice and TechNet said Congress did not give the CFPB free rein to aggressively, arbitrarily and capriciously police large non-banks offering consumer financial services through such products ...

The Consumer Financial Protection Bureau (CFPB) is suing Capital One, alleging the bank illegally misled customers by not notifying them of account options that paid higher interest rates.

The trade groups also said the CFPB identified no consumer risks or gaps in regulatory oversight that justified the rule, which covers companies that process at least 50 million transactions ...

Block Inc. reached an agreement with the Consumer Financial Protection Bureau early Thursday under which it will pay up to $175 million in restitution for what the CFPB claims were sloppy and ...