Cash App's parent company will have to pay $175 million for poorly protecting its users from fraud and financial crimes on the payment platform, officials said. The Consumer Financial Protection Bureau ordered Block to refund up to $120 million to users harmed by fraud,

Block, based in Oakland, was ordered Thursday to pay out at least $75 million to customers who had bad service experiences with Cash App.

Cash App-owner Block must offer up to $120 million in refunds to consumers who federal regulators say were exposed to potential fraud.