Block agreed to a $40 million settlement with the New York State Department of Financial Services

Description

Block Inc. agreed to a $40 million settlement with the New York State Department of Financial Services (NYDFS) following an investigation into compliance failures tied to its Cash App platform.

Event date

Apr 10, 2025 - 7:00am

Quotes that support claims

Block, Inc., the fintech giant led by Bitcoin advocate Jack Dorsey, has agreed to pay a $40 million penalty to the New York State Department of Financial Services (DFS) to settle an investigation into compliance failures tied to its Cash App platform

Jack Dorsey's Block, Inc. reached a $40 million settlement with New York's top financial regulator after an investigation found that the company had "critical gaps" in anti-money laundering requirements

Digital payments company Block Inc. has reached a $40 million settlement with New York regulators over alleged compliance misconducts tied to its Cash App platform, Bloomberg reported on April 10

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Week 15 of 2025