Attorney General Marty Jackley
PIERRE, SD (KELO.com) — South Dakota will receive over $400-thousand as part of a $45-million settlement with Block, Inc. Attorney General Marty Jackley says the company misled consumers about the safety of Cash App, and failed to protect users from fraud. Jackley said Block, Inc. told Cash App users their money was safe – implying that the app worked like a bank, with the same protections, which wasn’t true. At the same time, Block, Inc. knew fraud on its platform was rising sharply – and instead of warning users or strengthening protections, it doubled down on its marketing. For years, Block, Inc. actively promoted direct deposits of paychecks and government benefits into Cash App. It made a particular push to reach unbanked and underbanked consumers – people who would often rely on Cash App as their primary financial account, and who were especially vulnerable to fraud. Block, Inc. grew its user base without making sure it could support those users when problems arose.
If you believe you’re entitled to compensation go to: https://www.consumerfinance.gov/enforcement/actions/block-inc/ https://cashappcfpbsettlement.com/
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