Episode Details

The episode discusses the settlement agreement between Block Inc. (Cash App) and 48 US states concerning Anti-Money Laundering (AML) failures. Block will pay an $80 million penalty and implement improvements to its AML program, overseen by an independent consultant and a committee of state regulators. The agreement resolves concerns about potential illicit use of Cash App, without Block admitting wrongdoing. The settlement is publicly available, and details of the remediation plan are outlined in the agreement. State regulators retain jurisdiction over Block's future AML compliance.

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