Cash App’s $175 Million Settlement: Customer Refunds, Penalties, and Future Changes
In a groundbreaking move aimed at addressing years of customer complaints and security concerns, Cash App‘s parent company, Block Inc., has agreed to a settlement totaling up to $175 million. This includes $120 million in refunds and redress for affected customers, alongside $55 million in penalties. The settlement comes after regulatory investigations revealed troubling lapses in customer service and weak security protocols, which facilitated fraud on the popular peer-to-peer payment platform. The Settlement Details On January 18, 2025, the Consumer Financial Protection Bureau (CFPB) announced its enforcement action against Block. Customers who faced fraud or unresolved disputes with Cash App … Read more