Cash App parent company agrees to $45 million settlement with Illinois, 44 other states - Chicago Sun-Times
Cash App parent company Block settles for $45M, paying Illinois $1.1M and facing penalties, after accusations of misleading users about security.Summary
Block Inc., the parent company of Cash App, agreed to a $45 million settlement covering 45 states, including Illinois, which will receive $1.1 million. The deal imposes $55 million in civil penalties on Block and requires the company to reimburse customers nationwide between $75 million and $120 million, as well as to provide at least 13.5 hours of human‑staffed phone support per day and to stop marketing the app as a bank. Illinois Attorney General Kwame Raoul said the settlement holds Block accountable for misleading users about the app’s safety and for failing to warn about rising fraud, while a company spokesperson noted that Block has made “significant investments in consumer protection, customer service, and compliance.”
(Source：Chicago Suntimes)