The FTC is investigating whether Block broke consumer protection law by failing to offer Square users adequate support after freezing or shutting down their accounts, and it’s asking a federal judge in Oakland to make Block turn over documents. The agency opened the probe last year after more than 1,500 complaints from users who said they couldn’t reach or move up to $2.5 million since 2022, even after answering Block’s bank and identity verification questions. The FTC’s filing also points to Block’s February plan to cut 4,000 jobs and lean on AI across nearly all of its operations. Block said it’s cooperating with FTC staff on the agency’s few remaining requests and wants to bring the matter to a close.
