U.S.Regulators Urge District Court to Compel Block to Comply with Investigative Requests

Jinse Finance reported that the U.S. Consumer Financial Protection Bureau (CFPB) asked a federal judge to urge Block to fully comply with investigation requirements related to its Cash App payment tool.

In a petition filed Thursday, the CFPB is urging the U.S. District Court for the Northern District of California to enforce a civil investigation requirement. The CFPB said in the petition that Block, a digital payments company led by CEO Jack Dorsey, has not provided all the documents and data requested by the CFPB in August 2020 and August 2021.

In the petition, the CFPB said it could not sit by and allow its investigation to be hindered by Block's "slow progress."

A Block spokesman said in an email that Block was "disappointed" that the CFPB chose to file its petition despite the company's "regular communication" and cooperation. (Bloomberg)

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