Cash App owner Block settles states’ fraud lawsuit for $45M
The News Journal
Block Inc. will pay $45 million to settle a fraud lawsuit brought by 46 U.S. states over Cash App protections.Summary
Block Inc. has agreed to pay $45 million and improve customer service for its Cash App to resolve a lawsuit filed by 46 U.S. states, including Delaware, which alleged the company misled users about fraud protections, allowed accounts without proper ID, and increased advertising amid rising fraud. As part of the settlement, Block will stop misleading marketing, provide live support, and Delaware will receive $314,000 for its Consumer Protection Fund; the deal awaits approval by Delaware’s Court of Chancery and follows recent similar settlements, including a $120 million money‑laundering agreement and a $20 million COVID‑relief fraud settlement.
(Source：The News Journal)