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 ...

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 ...

"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 ...

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 ...

CFPB says Block deployed weak security protocols on Cash App Block ordered to pay up to $120 mln as compensation, $55 mln penalty Company says it disagrees with regulator's 'mischaracterizations ...

The CFPB said law requires Cash App to investigate and resolve disputes of unauthorized transactions, but the investigations were "woefully incomplete." Cash App allegedly directed fraud victims ...

© 2024 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and ...

With screen record you can capture anything with just a couple of taps, making it perfect for sharing achievements, saving social media stories, or showing someone how to do something. Let's learn ...

Capital One, the ninth largest bank in the US, marketed its 360 Savings account as having one of the highest annual percentage yields, the CFPB said in a statement Tuesday. However, after ...

The Consumer Financial Protection Bureau (CFPB) announced today it’s suing Capital One for “cheating millions of consumers” who held its flagship 360 Savings account out of more than $2 ...