NASHVILLE, Tenn. (WSMV) – Several states, including Tennessee, have reached a multi-million dollar settlement with Block, the owner of the payment app Cash App.
A lawsuit filed against Block alleged that the company misled Cash App users by telling them their money was safe while failing to protect them from fraud.
The lawsuit also said that Block did not have phone support for Cash App users until 2021, even though it listed a customer service phone number on Cash App debit cards and in its Terms of Service. The states claimed that this created openings for scammers to create fake customer service numbers for account takeover schemes.
Read the full lawsuit here:
Under the settlement, Block will pay $45 million and make changes to its customer service practices.
The company also must pay between $75 million and $120 million to compensate victims.
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