Consumer complaint received 2025-01-17 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: Block, Inc.
State: GA

Complaint narrative:
I am writing to formally file a complaint against Cash App ( Block , Inc. ) regarding their inadequate customer service, failure to address fraudulent activity, and non-compliance with federal consumer protection laws, including the Consumer Financial Protection Act ( CFPB ), the Electronic Fund Transfer Act ( EFTA ), and Regulation E.

1. Failure to Prevent and Address Fraud Cash App failed to implement sufficient security measures to protect my account from unauthorized transactions, despite industry-standard practices requiring financial institutions to take proactive steps in fraud prevention. When I reported fraudulent activity on my account, the response from Cash App was inadequate and dismissive. This lack of action resulted in financial losses that could have been prevented had they taken reasonable steps to safeguard my funds. 

XXXX. Unfair and Deceptive Dispute Resolution Process In addition to failing to protect my account, Cash Apps dispute resolution process was both unfair and deceptive. The company did not follow proper error resolution procedures under the EFTA and Regulation E, which require financial institutions to investigate disputes within specific time frames, provide provisional credits when applicable, and offer clear explanations regarding claim denials. Instead, I received vague and automated responses that did not adequately address my concerns or provide any reasonable justification for their decisions. 

XXXX. Violations of Consumer Protection Laws The actions of Cash App ( Block, Inc. ) constitute violations of consumer protection laws, including : The Consumer Financial Protection Act, which prohibits unfair, deceptive, or abusive practices in financial services.

The Electronic Fund Transfer Act ( EFTA ) and Regulation E, which set requirements for financial institutions in handling disputes related to unauthorized transactions. 
Cash Apps failure to comply with these regulations has caused me significant inconvenience, financial loss, and undue stress. Their business practices demonstrate a clear lack of commitment to consumer protection, which should be addressed by the CFPB to prevent similar experiences for other users. 

Requested Resolution : I respectfully request the following actions be taken : A full refund of the fraudulent transactions that were improperly handled under Regulation E. 
A thorough review and investigation into Cash Apps dispute resolution process to ensure compliance with federal consumer protection laws. 
Implementation of stronger fraud prevention measures and improved customer service practices to prevent similar issues for other users. 
I am providing all supporting documentation, including transaction records, communications with Cash App, and any relevant case reference numbers for your review. Please let me know if additional information is needed. 

Thank you for your time and prompt attention to this matter. I look forward to your response and a fair resolution.

Company response to consumer: Closed with explanation