Cash App users may be eligible for a share of a significant $15 million settlement following a class action lawsuit against Block, Inc., the company behind the popular payment platform. This settlement arises from claims regarding unauthorized transactions and improper account freezes, affecting millions of users.
The lawsuit highlighted concerns over security breaches and account management practices, which have prompted scrutiny of financial technology companies and their treatment of consumers. Affected customers, who experienced fraudulent charges or had their accounts frozen without justification, are entitled to compensation for the emotional distress, reputational harm, and monetary losses incurred.
Payment Details
Eligible claimants can expect to receive up to $2,500 as part of the settlement. However, the deadline to submit claims was November 18, 2024, and the final court hearing for the lawsuit took place on January 13, 2025. To qualify for the settlement, individuals needed to provide supporting documentation, such as account statements, to demonstrate their experiences with unauthorized transactions or account freezes.
Settlement payments are anticipated to be distributed towards the end of 2025, once all claims have been processed. Claimants can track the status of their payments via the settlement website, cashappsecuritysettlement.com.
Eligibility Criteria
To qualify for the Cash App settlement, claimants must be permanent residents of the United States and meet one of the following criteria:
- Unauthorized Access: Users whose sensitive personal information from their Cash App account was accessed or disclosed without permission.
- Fraudulent Transactions: Individuals who experienced unauthorized withdrawals or fund transfers documented in their accounts.
- User Status: Anyone who has utilized Cash App services, including investment services associated with the platform.
- Resolution Issues: Users who faced difficulties resolving account problems between August 23, 2018, and August 20, 2024.
Next Steps for Claimants
As the settlement process unfolds, it’s important for claimants to select their preferred payment method carefully, with direct deposits being faster than checks mailed to recipients. Claimants are advised to allow four to five business days for processing before reaching out to the settlement administrator for inquiries.
For more information about the Cash App settlement and potential eligibility for other class action cases, visit the Cash App Security Settlement website. This settlement represents a growing trend of accountability among financial technology companies regarding consumer rights and security practices.
