Cash App Fridays
Coverage of Cash App Fridays in the Nexus archive.
- Vermont gets $1.3 million to settle allegations Cash App did not shield users from fraud
Vermont will receive $1.3 million from a multistate settlement with Cash App's parent company Block over allegations the platform failed to protect users from fraud and misled them about security. The $45 million total settlement across 46 states follows a federal $175 million agreement with the Consumer Financial Protection Bureau over similar claims.
- Cash App agrees to $45 million settlement over shoddy account security and customer service
Cash App, operated by Block, Inc., agreed to a $45 million settlement with 46 state attorneys general over inadequate account security, deceptive marketing of FDIC insurance, and promotions that facilitated fraud. The states alleged the company delayed implementing customer support until 2021, allowed fake help lines to proliferate, and misled users about safety features.