Cash App triggers $45M settlement
Block agreed to pay $45 million to 46 states to settle claims that Cash App misled users about fraud protection and failed to safeguard against scams.Summary
Block, the parent company of Cash App, has agreed to pay $45 million to 46 states to resolve allegations that the peer‑to‑peer payment service misled consumers about its fraud‑protection measures and failed to protect users from scams. Under the settlement, Block will implement new customer‑support processes, provide a human phone line for at least 13½ hours a day and keep live chat open for at least 18 hours daily. The states cited a long‑running social‑media promotion, "Cash App Fridays", that encouraged users to share their "$cashtag," which fraudsters exploited to obtain login information. The agreement also ties Block’s payment of restitution to the 2025 Consumer Financial Protection Bureau settlement, ensuring that any shortfall will be enforced through the multistate executive committee.
(Source：Paymentsdive)