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CFPB, Block and Cash App

CFPB sued for trying to regulate digital payment apps more like banks

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 Washington,

Reuters · 1d

Tech groups sue US CFPB to block rule on payment apps, digital wallets

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 large non-banks.

Seeking Alpha on MSN · 1d

CFPB orders Cash App parent Block to pay $175M for fraud failures

The Consumer Financial Protection Bureau ordered Block (NYSE:SQ) to pay restitution of up to $120M and a penalty of $55M over alleged weak security protocols for its Cash App, the agency said on Thursday.

CFPB Fines Equifax $15M Over Consumer Dispute Probes

Hosted on MSN · 5h

CFPB fines Equifax $15 million over errors on credit reports

The Consumer Financial Protection Bureau fined Equifax $15 million over credit reporting errors. The CFPB alleged the credit bureau failed to properly investigate consumer disputes. Credit reports have a significant impact on consumer finances,

MarketWatch · 14h

CFPB Fines Equifax $15M Over Consumer Dispute Probes

Without admitting or denying the findings, Equifax has agreed to pay a $15 million civil monetary penalty that will be deposited into the CFPB's victims relief fund. A representative for Equifax didn't immediately respond to a request for comment.

USA Today · 3h

US consumer bureau fines Equifax $15 million over handling of consumer disputes

In a statement, a spokesperson for Equifax said the settlement "turns the page" on the matter, which it first disclosed in 2022.

7hon MSN

Biden's CFPB Goes Down Swinging In Blitz Of Rules. But How Many Will Survive Trump?

Key Takeaways In the final days of Joe Biden's administration, the CFPB issued a flurry of new rules and regulations, ...

The American Spectator1h

Federal Agency Gone Wild: Why the CFPB Needs Immediate Reform — and a New Chair

With President Joe Biden’s term nearly over, federal agencies should be winding down activities for the year and preparing ...

2don MSN

Capital One sued by CFPB for allegedly cheating customers out of $2 billion

The U.S. Consumer Financial Protection Bureau is suing Capital One, claiming the company cheated customers out of $2 billion ...

CFPB Fines CashApp $175 Million for Allegedly Mishandling Fraud Claims

If you lost money to scammers or had your account frozen on a popular peer-to-peer payment platform, you might be due for a ...

JD Supra7h

CFPB Reboots No-Action Letter and Sandbox Policies: A New Approach to Financial Innovation…Not

On January 3, 2025, the Consumer Financial Protection Bureau (CFPB) announced a comprehensive reboot of its No-Action Letter (NAL) and ...

US CFPB fines Cash App-parent Block over insufficient fraud protection

The Consumer Financial Protection Bureau on Thursday ordered payments firm Block to pay a penalty, citing fraud and weak ...

American Banker9h

Big Tech companies challenge CFPB's attempt to police them

Organizations that represent Amazon, Apple, Meta, PayPal, OpenAI and many other large technology companies accuse the consumer watchdog, which has given itself authority over companies that facilitate ...

JD Supra9h

CFPB's Proposed Rule Targets Consumer Financial Contracts

The Consumer Financial Protection Bureau (CFPB) issued a proposed rule under Regulation AA to address the use of restrictive and coercive clauses ...

National Mortgage News7h

CFPB files amicus brief in home equity investment case

Legal arguments in this case hinge on whether products offered by HEI platforms should fall under the Truth in Lending Act.

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CFPB, Block and Cash App

CFPB Fines Equifax $15M Over Consumer Dispute Probes

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