The Consumer Financial Protection Bureau (CFPB) brought the case of Block Inc founder Jack Dorsey to federal court over Block's alleged failure to comply with investigative demands regarding the Cash App.
Cash App is a popular platform among users to transact stocks and Bitcoin.
CPFB along with the US District Court has filed a petition to the Northern District of California seeking a civil investigation claim related to Cash App's handling of the dispute complaint.
The indictment from the CFPB stated that Block Inc should provide all the documents and data requested in August 2020 and August 2021, but so far have not provided.
Nevertheless, Block expressed his frustration because Block has always communicated and cooperated, but the CFPB has filed a petition against him.
According to Block, they have been waiting weeks for the CFPB to respond to its latest communication, which outlined the scope of the previous response to set a proposed timeline for the remaining release of the material and posed clarifying questions to the bureau.
However, the CFPB said it had contacted Block's attorneys several times for document and data requests including agreeing to his extended deadline. But, Block still failed to provide documents for six specific questions raised by the CFPB.
Additionally, the Bureau also noted that Block failed to file a formal petition to modify or dismiss the investigative claim. He added that Block Inc has also not given a fixed date for issuing related documents.
