FTC probes Block after complaints of frozen accounts
The FTC is investigating Block (XYZ), parent of Cash App and Square, for alleged consumer protection violations following over 1,500 complaints about frozen accounts. The agency issued a Civil Investigative Demand on Jan. 22, 2026, seeking information on account practices. A recent filing seeks to enforce this demand after Block failed to verify responses or certify completeness. Consequently, Block's stock dropped 1.9% in late Thursday trading.