FTC investigating Block over frozen Square, Cash App accounts

The FTC is investigating Block, the parent company of Square and Cash App, over whether it violated consumer protection laws by allegedly failing to help customers with frozen or deactivated accounts. According to Bloomberg, court filings made public late Wednesday show the agency asking a judge to order Block to turn over documents. The probe began last year, with a records demand sent in January. The case is listed as FTC v Block, 26-mc-80299, in the U.S. District Court for the Northern District of California (Oakland). The FTC’s filing points to consumer allegations involving funds totaling up to $2.5 million since 2022. Block says it’s working with the FTC.