Block reached an agreement in principle with the US Department of Justice in October 2026 to resolve a charge that it failed to maintain an effective anti-money laundering program under the Bank Secrecy Act, the company disclosed in its third-quarter filing on November 3. The proposed three-year deferred prosecution agreement has a $964 million monetary component, and Block would pay about $764 million of it after $200 million in credit for prior regulatory resolutions.
Why it matters: Block has accrued $764 million, but the resolution still needs a final agreement and court approval, and the company warned that the final terms could produce losses above that amount. If Block meets the terms for three years, the DOJ would dismiss the charge; the deal would add to a $255 million Cash App settlement with the CFPB and 48 states in 2025 and a $45 million settlement with 46 states in July 2026.
Source: Payments Dive, November 4, 2026; Reuters, via StreetInsider, November 3, 2026
Related: Fiserv doubles Project Elevate savings target to $1 billion and talks to buyers for noncore businesses · TWTWIP week ending November 1, 2026
Image: Z22, CC BY-SA 4.0, via Wikimedia Commons
