US consumer finance watchdog orders payments firm Block to pay $175 million-June 2024-www.financetom.com

US consumer finance watchdog orders payments firm Block to pay $175 million

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US consumer finance watchdog orders payments firm Block to pay $175 million

Jan 16, 2025 7:17 AM

Jan 16 (Reuters) - The Consumer Financial Protection

Bureau (CFPB) on Thursday ordered payments firm Block to

pay a penalty tied to the operations of its peer-to-peer

payments network CashApp.

The order includes a redress to consumers of up to $120

million and a penalty of $55 million into the CFPB's victims

relief fund.

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