If you’ve ever used Cash App to send or receive money, you might be eligible to receive part of a $15 million class action settlement.
A new lawsuit settlement states that the money-transferring platform showed a “failure to exercise reasonable care” in working to protect customers’ personal information before mass data breaches in 2021 and 2023 that affected an estimated 8.2 million users.
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In the 2021 lawsuit, an employee of Cash App reportedly downloaded user information on the backend without permission.
Other allegations in the lawsuit state that Cash App and its parent company, Block, were “negligent” and “breached other obligations to users” by mishandling customer complaints about unauthorized or fraudulent transactions made on accounts.
Block and Cash App both deny any liability in the allegations.
Who is eligible for payment?
Cash App users with an account on the platform who have had their personal information accessed without permission, or those who have fallen victim to fraudulent transactions on their account between August 23, 2018, and August 20, 2024, are eligible to submit a claim.
Those looking to cash in on a settlement payment can submit a claim through the settlement administrator’s website from now through November 18.
How much can Cash App users receive?
Those who receive a cut of the settlement may receive up to $2,500, depending on their eligibility and how many people submit a claim.
Customers can submit a claim in three separate areas — out-of-pocket losses, transaction losses, and lost time.
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Those submitting a claim for out-of-pocket losses can achieve up to $2000, while those submitting a claim for lost time can receive up to $25 for three hours, and an unspecified amount of money for transaction losses.
“Block and Cash App Investing have also agreed to certain valuable enhancements to their data security,” the settlement administrator’s notice also reads. It doesn’t specify what enhancements are taking place.
