Maryland Attorney General Anthony G. Brown announced a $45 million multistate settlement with Block, Inc., the parent company of Cash App, resolving allegations that the company failed to protect users from fraud, misled consumers about the app’s security, and did not provide the fraud resolution process required by law.
In addition to the settlement payment, a $75 million to $120 million consumer restitution program will be available for eligible victims of fraud. Under the agreement, Block must strengthen fraud prevention measures, maintain expanded live customer support, improve investigations into fraud claims, reimburse users for unauthorized transactions when required by law, stop making misleading claims about Cash App’s safety, and provide consumers with education about common scams.
Consumers seeking information about the restitution program can visit cashappcfpbsettlement.com or call (888) 832-1301.
