Block (Afterpay, Cash App)
Ticker XYZ. Owner of Square, Cash App and Afterpay.
12 items in 8 issues, Oct 24, 2026 to Nov 7, 2026, newest first. Each item links to the issue it ran in, where its sources are listed.
Related: SezzleRegulation and policyDeals and fundingFraud and underwritingFintech and new entrantsCharters and sponsor banksAffirm
November 2026
- Sat, Nov 7 · Opening balance
The calendar. The week packed in midterm elections on Tuesday, fintech earnings from Block, Upstart and Oportun that evening, Sezzle and Affirm on Wednesday, and the October jobs report on Friday. Economists surveyed by Bloomberg expected about 70,000 new jobs.
Read in the issue → - Sat, Nov 7 · Charges
Block's settlement. Block reached a tentative agreement to pay $764 million, net of $200 million in credit for earlier settlements, to resolve Justice Department charges over Bank Secrecy Act and anti-money laundering failures. The charges are deferred for three years, and the company warned that losses could exceed what it has set aside.
Read in the issue → - Sat, Nov 7 · Credits
Fintech results. Block lifted its 2026 gross profit guidance to $12.626 billion as consumer lending originations, led by Cash App Borrow and Afterpay, climbed 40% to $19.0 billion; its shares gained 12.1% for the week. Sezzle raised its 2026 revenue growth forecast to about 42.5% after third-quarter revenue grew 42.6%, and its shares rose 10.8%.
Read in the issue → - Fri, Nov 6 · Earnings
Marqeta. Card platform Marqeta swung to $115.4 million of third-quarter net income and raised its outlook as processing volume rose 29% to $126.5 billion. Block still made up 41% of revenue, and KBW warned that growth from top clients, including BNPL companies, could slow. There is "almost nothing more engaging than a card product," CEO Mike Milotich said.
Read in the issue → - Thu, Nov 5 · The big story: Block settles with the DOJ
The deal. Block will pay $764 million to settle Justice Department charges over Bank Secrecy Act and anti-money laundering failures, net of $200 million in credit for earlier settlements, under a $964 million deal disclosed in its quarterly filing. Charges are deferred for three years and dropped if Block complies, and the company warned that losses could exceed the amount it has set aside.
Read in the issue → - Thu, Nov 5 · The big story: Block settles with the DOJ
A long tail. Cash App's compliance lapses have now cost Block more than $1 billion: the DOJ deal follows a $255 million settlement with the CFPB and 48 states in January 2025 and a $45 million deal with 46 states in July. Executives did not discuss the settlement on the earnings call.
Read in the issue → - Thu, Nov 5 · The big story: Block settles with the DOJ
Results held up. Investors largely looked past the settlement: Block's quarterly net income rose 23% to $565.6 million on $6.72 billion of revenue, and TD Cowen's Bryan Bergin called it one of Block's "strongest recent performances."
Read in the issue → - Wed, Nov 4 · Earnings
Block. Block raised its 2026 gross profit guidance to $12.626 billion and adjusted EPS to $4.15, and shares rose 14% by mid-morning Wednesday. Gross profit rose 22% to $3.24 billion, with Cash App up 27% and Square up 14%, and consumer lending originations, led by Borrow and Afterpay, rose 40% to $19.0 billion while losses rose 66% to $601.7 million. Block stretched Cash App Borrow from four-week loans with a 5% fee to six-week loans with a 7.5% fee and raised Borrow's target variable profit margin to 2.8% from 2%. The change came because "customers were asking for more time and payment flexibility," credit head Juan Hernandez said. Afterpay post-purchase originations more than tripled from a year earlier as Block pushes Afterpay into the Cash App Card, CFO Amrita Ahuja said. Hernandez said the card is running at more than 20 times Borrow's origination volume at the same stage. "Returns on our lending products continue to be strong in the third quarter," CFO Amrita Ahuja said, adding that variable profit margins held steady "even on a much larger base."
Read in the issue → - Sun, Nov 1 · The week ahead
Block. Reports Tue Nov 3 after the close; consensus is about $1.03 EPS on $6.65B revenue. Watch Cash App lending and Afterpay volumes.
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October 2026
- Mon, Oct 26 · Banks & charters
Charter & merger pipeline. Approvals are speeding up. Context: Sep 2026: the OCC conditionally approved charters for Mission Lane (credit-card bank) and Revolut. Avant and Block applied. The FDIC proposed faster merger reviews; it says average review time is down to 64 days in 2026 from 107.
Read in the issue → - Sun, Oct 25 · Banks & charters
Charter wave. Block, Ramp, Avant and Modern Treasury have sought OCC charters in recent months, and Ramp applied the week before Sezzle. Context: Affirm applied for a Nevada ILC earlier in 2026, PayPal sought a Utah ILC in Dec 2025, and Upgrade filed for a Nevada ILC on Oct 12, 2026, naming ex-OCC and SoFi executive Virginia Varela as bank CEO.
Read in the issue → - Sat, Oct 24 · BNPL & lending
Cash App Card. First Electronic Bank lends behind Afterpay on the Cash App Card, which Block expanded to all eligible cardholders in June 2026.
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