Jack Dorsey’s Block Inc. will pay up to $175 million for failing to investigate and protect Cash App customers from fraudulent transactions under a settlement with the Consumer Financial Protection Bureau.

Cash App's parent, Block Inc., settled two regulatory actions, one with the Consumer Financial Protection Bureau and another with state agencies.

The CFPB is also ordering Block to fix Cash App’s customer service and its processes for investigating disputed transactions, in part by setting up 24-hour, live-person customer service. The order requires Block to fully investigate unauthorized transactions and to provide timely refunds when appropriate.

Poor customer service is irritating and exhausting. And for Oakland-based Block, which operates the popular Cash App and Square products, it’s also proving to be expensive. The financial tech company is required to pay at least $75 million to Cash App customers and $55 million to a government-run penalty fund under a Thursday order from the Consumer Financial Protection Bureau.

"Women LOVE when you pay attention to this." Sen. Sheldon Whitehouse (D-R.I.) said statements in President Biden’s farewell speech came much too late in a Thursday statement, raising question with the commander in chief’s parting remarks.

Cash App's parent company Block failed to investigate fraud and unauthorized transactions, and refused to refund customers, the Consumer Financial Protection Bureau said.