Jack Dorsey—Block settled with CFPB for $175 million over Cash App fraud failures
In January 2025, Block Inc. agreed to pay $120 million in consumer refunds and a $55 million fine to settle CFPB allegations that Cash App allowed rampant fraud while misleading customers. The CFPB found Block's fraud investigations were 'woefully incomplete' and that the company relied on Terms of Service to deflect responsibility. Block also agreed to establish 24-hour customer service.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Consumer Protection | -against | primary | -1.00 |
| Overall incident score = | -0.429 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.57)× agency (negligent ×0.5)
Evidence (1 signal)
Fortune reported Block's $175M CFPB settlement over Cash App fraud failures
Fortune reported that Block would pay up to $120 million in refunds to consumers, establish 24-hour customer service, and pay a $55 million fine. The CFPB argued Block's fraud investigations were 'woefully incomplete' and the company 'tricked consumers' by relying on Terms of Service.