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.
