Block to Submit Materials to the FTC in Response to Investigation into Complaints from Square Users

AI-assisted source summary · not independently verified. Content standards

Block agreed to submit materials to the FTC to cooperate with a regulatory investigation into complaints about Square user accounts being frozen or deactivated; there are approximately 1,500 complaints. Block will submit the materials in three batches and agreed to answer 47 questions from the FTC; the FTC said the complaints involve at least USD 2.5 million in payments withheld from Square users.