LITTLE ROCK, Ark. — Mobile apps make it faster and easier to move money from one place to another, like Cash App, which allows customers to connect their bank accounts.
But now, because of a data breach, customers who use the popular service may be getting some cash back.
Google Trends recently showed an increase in people searching for a Cash App settlement after a viral social media post claimed that anyone who used Cash App in 2018 could receive up to $25,000 as part of the settlement.
The post stated that users impacted by data breaches between 2018 and 2024 may be eligible for a payment, to compensate for the potential loss. Here's how you can find out if you qualify.
In April 2022 and October 2023, Block, Inc. and Cash App Investing, LLC faced data breaches. Now, the Cash App settlement seeks to reimburse customers affected by data breaches.
In August 2022, a lawsuit claimed the company was quote, "negligent, made misrepresentations, and breached other obligations to their users" in its handling of the breaches.
Block, Inc., the owner of Cash App, agreed to a settlement to address the case.
The payments of up to $2,500 are for out-of-pocket losses that can be traced to a data breach event or cash app error.
Examples include fees for credit monitoring purchased because of the breach, accountants' fees, and costs associated with missed payments or unrefunded overdraft fees.
Some customers may also be eligible for $75 for lost time or additional transaction losses, the settlement documents explain.
To be eligible for the settlement, customers must have been impacted by either of the data breaches or have had unauthorized money transfers or unresolved errors in a cash app account between the dates of August 23, 2018, and August 20, 2024.
Customers may be notified by mail or email by the settlement administrator, but others who were impacted can still file a claim without a notice by November 18, 2024.
Checks or electronic payments will go out after the final approval hearing, set for December 16.
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