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.
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Cash App's parent company will have to pay $175 million for poorly protecting its users from fraud and financial crimes on the payment platform, officials said. The Consumer Financial Protection Bureau ordered Block to refund up to $120 million to users harmed by fraud,
Block, based in Oakland, was ordered Thursday to pay out at least $75 million to customers who had bad service experiences with Cash App.
KNOE has compiled a list of resources available to people facing financial hardship and needing help paying their bills.