State attorneys general said they found that Block misled users by falsely advertising that Cash App provided bank-like protections, including advanced fraud detection.

The Trump Administration has gutted the CFPB, but states like Texas, Oregon and New York are targeting payments firms and filling in enforcement gaps.

Block Inc. has agreed to pay $45 million to settle allegations brought by regulators in nearly every U.S. state.

Block, Inc. agreed to pay $45 million to 46 state attorneys general over allegations Cash App misled users about fraud protections and lacked basic customer

Block has reached a $45 million settlement with 46 US states over allegations of inadequate fraud protection for its mobile payment service. The platform was accused of misleading…

Block will pay $45m to 46 US states over Cash App fraud handling, as state regulators move into ground the weakened CFPB has vacated.

State attorneys general said they found that Block misled users by falsely advertising that Cash App provided bank-like protections, including advanced fraud detection.

According to the indictment, Block exposed its users to fraud by misleading them about Cash App's security. The company promised advanced fraud detection mechanisms but allegedly…