The Cash App Class Action Settlement is one of the most serious payment updates on consumer issues created due to this application’s illicit practice. Their case against the Cash App focuses on the app not having any suitable security protocols in place in which customers’ personal data gets leaked before hackers.
Among these two critical breaches and fraud against the app due to the misuse of their private details, varying accusations are also faced by the application. This ensured the company paid a much-needed compensation amount as agreed upon for all the settlement amounts.
Cash App Class Action Settlement 2025
Many people in America face various issues with misusing personal information, such as their SSN and bank details. All these steps will lead to a lawsuit against Cash App and its parent company, Block Inc., revolving around the key allegations of negligent handling of two major data breaches.
In 2022, a former employee at the company illegally accessed users’ sensitive data. Then, in 2023, hackers accessed user account data through previously linked numbers and used the information for illicit activities. The company has been accused of not taking all these breaches seriously and lacking security among their customers’ data.
Cash App Settlement Overview
| Company | Block Inc. (Parent Company of Cash App) |
| Case Name | Cash App Class Action Settlement |
| Country | USA |
| Settlement Amount | $15 million |
| Final Hearing | January 13, 2025 |
| Payment Distribution | Late 2025 or early 2026 |
| Category | Government Aid |
| Official Website | https://cashappsecuritysettlement.com/ |
Cash App Settles for $15 Million
Cash App agreed to settle for the total while paying $15 million in August by denying all the wrongful and liability matters. Moreover, the company pledged to strengthen data protection and security measures for its users’ data to restore their trust.
The company will also compensate its eligible users who have qualified for the criteria set by them. People must fill out the claim before the November 15, deadline to get compensation of $2500, depending upon the loss faced.
Cash App Class Action Settlement Payout Dates
The Class App Action Settlement Payment will only be distributed to the bank accounts of eligible citizens on specific dates. Citizens are advised to stay connected with the company’s official website to get the latest information about payout dates.
- The court’s final hearing to approve the class action settlement will occur by teleconference on January 13, 2025.
- If the settlement amount decided will get approval from the court and there is no other appeal to delay the process, then distribution will start.
- However, the timeline for distributing the payments among eligible residents may extend to late 2025 or early 2026.
Who Can File a Claim for Cash App Class Action Settlement
American customers who have faced data breaches and want to receive a Cash App Class Action Settlement must be eligible for payment. Block Inc. and the Court will combine and prepare the eligibility criteria to help ensure that only affected and suffering citizens qualify for the benefits.
- Customers who have experienced fraudulent transactions or unauthorized access between August 23, 2018, and August 20.
- Customers who have an active cash app account during this timeframe are eligible for receiving settlement.
- Customers must have valid documents to prove they faced damages to the company.
Cash App Class Action Settlement Final Hearing
Launched in 2013, Cash App quickly became one of the best peer-to-peer payment platforms in the United States, dethroning Venmo’s downloads by 2018. The app became widely popular and referenced in over 200 hip-hop songs.
Still, with increased popularity, controversies have arisen on these issues with scammers and weak vulnerabilities leading it to court; a Class Action Lawsuit at $2,500 awaits before the Final Hearing on January 13, 2025.
This would let claimants know their statuses and be on the level so that longstanding accusations of lax practices in terms of security by this platform could be set free.
FAQs
What are the several factors contributing to the delays in payment?
Number of claimants and process of claiming submission.
When will the court’s final hearing take place?
On January 13, 2025.
When is compensation expected to be attributed among citizens?
Late 2025 or early 2026.