MONTGOMERY, AL — Alabama Attorney General Steve Marshall announced Wednesday that Alabama will receive $595,421 as part of a $45 million multistate settlement with Block, Inc., the company behind the Cash App mobile payment platform.
The settlement resolves allegations that Block misled consumers about the safety of Cash App, failed to adequately protect users from fraud, and did not provide the fraud protection and customer assistance required by law when users experienced unauthorized transactions or account issues.
According to the Attorney General’s Office, the investigation found that Block promoted Cash App as a safe way to store and transfer money while fraud on the platform increased. Investigators alleged the company expanded its user base, including consumers who relied on Cash App as their primary financial account, without providing sufficient safeguards or customer support…