Cash App users may soon receive refunds after the Consumer Financial Protection Bureau (CFPB) ordered the mobile banking platform’s parent company, Block Inc., to pay out $175 million over weak security measures and failure to investigate fraud claims.
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This marks the second major settlement against Cash App in recent months, raising concerns about the platform’s handling of user funds. Here’s what you need to know about the settlement, who qualifies for a refund, and how to get your money back.
What Did Cash App Do Wrong?
The CFPB found that Cash App failed to protect users by allowing fraud to spread on its platform and then wrongfully denying legitimate refund requests. The agency accused Cash App of:
✅ Ignoring fraud reports and closing cases without conducting proper investigations.
✅ Forcing customers to seek refunds from their banks—which Block Inc. would later deny.
✅ Using misleading Terms of Service to shift responsibility away from itself.
✅ Providing poor customer support, making it nearly impossible for users to report fraud.
CFPB Director Rohit Chopra said, “Cash App created the conditions for fraud to proliferate… and flouted its responsibilities.”
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How Cash App’s Fine Print Tricked Customers
According to the Electronic Fund Transfer Act, mobile banking platforms are required to investigate disputes over unauthorized transactions. However, Cash App allegedly used its Terms of Service to mislead users into thinking that dispute investigations were the responsibility of their banks—which is illegal.
Even when Cash App did investigate, the CFPB says the company used intentionally poor practices to favor itself over consumers.
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Fake Customer Support & Scams Targeting Users
🚨 Many Cash App users who tried to contact customer service found that the phone number listed on the app and Cash Card did not connect them to a real representative. Instead, they were met with a pre-recorded message, directing them back to the app.
Because of this lack of real support, scammers took advantage of Cash App users. Fraudsters posed as customer service agents, tricking users into giving up their passwords and personal information.
Shockingly, the CFPB says Cash App knew about these scams but failed to act quickly to stop them.
How Much Will Kentucky Cash App Users Get?
The exact payout amounts are unclear, and it is unknown how many users will receive refunds or when the payments will be distributed. However, in a previous $15 million Cash App settlement, some affected users received up to $2,500 each.
Who Qualifies for a Refund?
Cash App users eligible for refunds include those who:
🔹 Had fraudulent transactions that were never refunded
🔹 Had unauthorized transfers that Cash App failed to investigate
🔹 Had their accounts locked due to fraud concerns
🔹 Did not receive provisional credits during delayed fraud investigations
Do You Need to File a Claim?
No action is required!
According to the CFPB, affected users will be identified automatically and compensated without needing to submit a claim.
How Will Cash App Users Get Their Refunds?
💰 If you’ve used Cash App in the past six months, you may receive a credit directly in your Cash App account.
💵 If you’re no longer an active Cash App user, you may get a separate payment outside the app.
Cash App Ordered to Improve Customer Support
In addition to paying $175 million, Block Inc. must:
✔️ Establish 24/7 live customer support
✔️ Properly investigate unauthorized transactions
✔️ Provide timely refunds where appropriate
Have Questions? Contact Cash App Support
📞 Toll-Free Number: 1-888-488-1181
📧 Email: [email protected]
📍 Mail: Cash App MSC 210, 1955 Broadway, Suite 600, Oakland, CA 94612
Need to Report a Financial Scam?
Consumers can file complaints about financial services with the CFPB:
🔹 Online: CFPB Complaint Website
🔹 Phone: (855) 411-CFPB (2372)
📢 Employees who suspect their company is violating federal consumer laws can report concerns anonymously by emailing [email protected].
💡 Final Takeaway: If you’ve been affected by fraud, unauthorized transactions, or account lockouts on Cash App, you may be entitled to a refund—without filing a claim! Keep an eye on your Cash App account or mail for updates on your compensation. 🚀
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