FTC Probes Block Over 1,500 Complaints of Frozen Accounts
XYZ sits 55% above its 52-week low of $48.21.
Summary
The FTC is investigating Block over consumer protection violations after receiving more than 1,500 complaints about Square freezing or deactivating payment accounts without notice or remedy. The agency issued a Civil Investigative Demand on Jan. 22, 2026, and is now seeking to enforce it, alleging Block has not verified its interrogatory responses or certified document completeness. This is a material regulatory risk for a company whose core business depends on consumer trust in Cash App and Square. The stock dropped 1.9% in late trading on the news.
At the time of this announcement, XYZ was trading at $74.92 on NYSE in the Finance sector, with a market capitalization of approximately $45B. The 52-week trading range was $48.21 to $86.92. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Seeking Alpha.