Policy · 1h ago
Block pays $45M to settle Cash App fraud claims from 46 states
Block has agreed to a $45 million settlement with 46 states over allegations that Cash App misled users about fraud protections. State attorneys general found that Block falsely advertised bank-like safeguards, including advanced fraud detection. The settlement resolves a multi-state probe into Cash App's security practices.
Meridian48 take
The settlement underscores how fintech apps often blur the line between convenience and consumer protection, with regulators increasingly holding them to traditional banking standards.
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Block reaches $45M settlement with 46 states over Cash App fraud probe →
TechCrunch
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