RALEIGH, N.C. (WECT) – Cash App users who lost money to fraud may be eligible for refunds under a settlement announced Wednesday by North Carolina Attorney General Jeff Jackson.
Jackson joined attorneys general from 46 other states in a deal with Block, Inc., the parent company of Cash App. Block must distribute between $75 million and $120 million to consumers nationwide and pay $45 million to participating states.
North Carolina receives nearly $1 million, officials said.
Jackson’s office alleged Block made a series of decisions that left users exposed to fraud, and then failed to help them when it occurred.
Officials said that, for years, Cash App had no phone support. Users who searched online for help often reached fake numbers run by scammers who then drained their accounts. The state alleged Block knew of the issue but did not act.
A Cash App social media promotion called “Cash App Fridays” encouraged users to publicly post their account identifier. Scammers would then use those posts to impersonate Cash App and steal login credentials, according to Jackson’s office. The state alleged Block kept running the promotion despite knowing about the scam.
Under the settlement, Block must provide 24-hour customer support with a human available by phone at least 13.5 hours a day, investigate fraud claims, reimburse users for unauthorized transactions, and stop misleading users about the app’s safety.
“Block told users Cash App was safe, but made it easier for fraud to occur, and then failed to help when customers needed it most,” Jackson said. “This settlement gets money back for the customers who took them at their word.”
Block, Inc. responded to the settlement in a statement:
“We’ve reached an agreement that resolves a previously disclosed legacy matter that primarily relates to historical aspects of our business. Cash App has made significant investments in consumer protection, customer service, and compliance in order to safeguard and serve the tens of millions of Americans who rely on Cash App to meet their banking and credit needs. We share the commitment of the attorneys general to addressing industry challenges and continue to invest in operations and technology to promote a safe and healthy financial ecosystem.”
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