Cash App-owner Block must offer up to $120 million in refunds to consumers who federal regulators say were exposed to potential fraud.

The Consumer Financial Protection Bureau (CFPB) announced today that's it's fining Block, the creator of Cash App and parent company of Square, $120 million in "refunds and redress" and a $55 million fine for how the company handled fraud on its payment platform.

Cash App's parent company will have to pay $175 million for poorly protecting its users from fraud and financial crimes on the payment platform, officials said.The Consumer Financial Protection Bureau ordered Block to refund up to