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Cash App Users To Get Refunds In $175M Order As Feds Target Fraud Cash App Users To Get Refunds In $175M Order As Feds Target Fraud
Cash App Users To Get Refunds In $175M Order As Feds Target Fraud 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, the federal agency said in a news release on Thursday, Jan. 16. The parent company of Cash App, which has more than 56 million accounts, must also pay a $55 million fine into the CFPB’s victims relief fund. The CFPB found that Block failed to properly investigate unauthorized transactions and deprived users of…

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by Chris Spiker
Business
Capital One Kept $2B In Savings Account Interest From Banking Customers, CFPB Suit Says Capital One Kept $2B In Savings Account Interest From Banking Customers, CFPB Suit Says
Capital One Kept $2B In Savings Account Interest From Banking Customers, Cfpb Suit Says The federal government is suing Captial One, accusing the banking giant of deceiving consumers and withholding more than $2 billion in interest payments on savings accounts. The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Capital One and its parent company, the agency said in a news release on Tuesday, Jan. 14. The CFPB accused Capital One of marketing its "360 Savings" accounts as offering some of the nation's highest interest rates but froze those rates while competitors' rates climbed. Simultaneously, the bank introduced a nearly identical product, "360 …

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by Chris Spiker
Business
PA Attorney General Warns Consumers Amid Big Lots Bankruptcy, Closures PA Attorney General Warns Consumers Amid Big Lots Bankruptcy, Closures
PA Attorney General Warns Consumers Amid Big Lots Bankruptcy, Closures Attorney General Michelle Henry is warning Pennsylvanians to protect themselves as Big Lots closes its remaining 64 stores across the state amidst Chapter 11 bankruptcy proceedings. The retailer began going-out-of-business sales on Dec. 20, 2024, following a federal bankruptcy court order. Henry issued the alert on Friday, Jan. 10, to ensure consumers understand their rights and avoid potential financial losses during the liquidation process. “Consumers should take steps to safeguard their purchases and claims as Big Lots winds down operations,” Henry said. The Attorney General’s Office of…

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by Jillian Pikora
Business
Alleged Eavesdropping Costs $95 Million As Apple Reaches Siri Settlement Alleged Eavesdropping Costs $95 Million As Apple Reaches Siri Settlement
Alleged Eavesdropping Costs $95 Million As Apple Reaches Siri Settlement Apple will pay a $95 million settlement regarding allegations that its virtual assistant, Siri, eavesdropped on users without their consent, according to multiple reports. The settlement, filed in federal court in Oakland, California this week, addresses a lawsuit that dates back five years and must be approved by a US District judge at a hearing on Friday, Feb. 14, Bloomberg Law reports. The lawsuit claims that Siri was activated to record conversations even when users did not use the launching phrase, “Hey, Siri.” These recordings were allegedly shared with third parties s to target user…

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by Joe Lombardi