Block and the Justice Department Reach a Tentative Agreement in Principle on an Anti-Money-Laundering Settlement
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On November 4, 2026, Block said it had reached an agreement in principle with the U.S. Department of Justice on a $964 million settlement to resolve allegations that its anti-money-laundering program was ineffective and that it had allegedly violated the Bank Secrecy Act. According to the company’s disclosure, Block will pay $764 million; if it fulfills the terms of the agreement, the Justice Department will defer the related charges for three years and may dismiss them. In addition, Block will receive a $200 million credit for prior regulatory settlements. The company also said that the agreement has not yet been finalized and that the final loss could exceed the $764 million currently accrued.
AI-written from reports · updated 2 hours ago
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- Payments DiveSelectedBlock reaches agreement in principle with the U.S. Department of Justice on a deal totaling $964M
Block said it has reached an agreement in principle with the U.S. Department of Justice on a deal totaling $964M, under which it will pay $764 million to resolve allegations that its anti-money laundering program was ineffective and that it violated the Bank Secrecy Act. If Block meets the terms of the agreement, the DOJ will defer the relevant charges for three years and may dismiss them; Block will also receive a $200 million credit for prior regulatory settlements. The company said the agreement has not been finalized and that the ultimate loss could exceed the $764 million already accrued.
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