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, following allegations of misleading consumers about the app's safety. The settlement, resulting from a multistate investigation involving 46 states, found that Cash App failed to provide adequate fraud protection and misrepresented its services as a secure banking alternative. Users faced issues like lax verification, lack of customer support, and delayed fraud investigations. As part of the settlement, Cash App must enhance customer support, stop misleading claims, and ensure proper investigation and reimbursement for unauthorized transactions. Texans will receive nearly $5 million from the settlement.
AI summary · Source: Texas Border Business →
