Cash App users may be eligible to receive payment from the company
COLUMBUS, Ohio (WCMH) — Users of Cash App who have used the service since 2018 might be entitled to receive compensation as part of a $15 million class-action settlement. The lawsuit alleges that Block, the parent company of Cash App, was “negligent” in handling user data and account access in two separate incidents.
Although Block and Cash App deny any wrongdoing, they have agreed to the settlement. The funds will be distributed to former and current Cash App users whose accounts were accessed without authorization or who experienced fraudulent withdrawals or transfers between August 23, 2018, and August 20, 2024.
How to Claim Your Settlement
Eligible individuals can file a claim online to receive up to $2,500 for out-of-pocket losses incurred during the specified period. This includes costs related to credit monitoring, overdraft fees, or late payments. Claimants must provide third-party documentation to support their claims.
Security Measures and Expert Advice
In addition to the financial settlement, Block and Cash App have pledged to enhance their data security measures. Consumer and finance expert Clark Howard has previously expressed concerns about peer-to-peer payment apps like Cash App, Venmo, and Zelle, noting that they lack clear legal consumer protections.
Howard advises against using these apps due to their vulnerability to fraud. “The problem with the hacks is what happens after you’ve been hacked,” Howard said. He suggests keeping such apps in a separate bank account and using them only for transactions with friends and family.
Claim Submission Deadline
To find out if you qualify for a portion of the Cash App settlement, visit the official website, complete the claim form, and submit it by November 18.
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