Cash App to Pay $45 Million in Texas Settlement Over Deceptive Safety Claims
· Texas Border Business
Texas Attorney General Ken Paxton announced a $45 million settlement with Block, Inc., the parent company of Cash App, over deceptive safety claims. The settlement addresses allegations that Cash App misled users about the security of its platform and failed to protect them from fraud. An investigation involving 46 states revealed that Cash App's marketing portrayed it as a safe banking alternative, despite rising fraud and inadequate consumer protections. As part of the settlement, Cash App must provide 24-hour customer support, stop misleading claims, and fulfill its legal obligations regarding unauthorized transactions. Texans will receive nearly $5 million from the settlement.
AI summary · Source: Texas Border Business →
