The Cash App Class Action Settlement 2025 is a turning point for millions of customers who have faced problems ranging from unlawful withdrawals to compromised personal information. This settlement provide up to $2,500 in compensation to each qualified individual.
Block Inc. (Cash App’s parent company) has faced a large, multi-state regulatory action, culminating in $80 million in fines for alleged breaches of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) laws. The qualifying claimants’ accounts will receive Cash App Class Action Settlement Payment Amount 2025 directly. It’s crucial to often visit the official website to stay informed about payout dates.
On January 13, 2025, the last court hearing was scheduled, if the settlement is accepted and there are no challenges or delays, payments might start in late 2025 or early 2026.
$2500 Cash App Class Action Settlement in 2025
The complaint claims that as a result of the December 2021 data breach, 8.2 million personally identifiable information belonging to current and former Cash App Investing customers was made public without consent. A former employee who had access to the plaintiffs’ personal information while working at Cash App also downloaded the data without their knowledge, according to the lawsuit. Cash App customers were granted access to a $15 million settlement last month on allegations of inadequate security measures.
Despite their denials of any misconduct, the company agreed to the settlement to avoid the dangers and expenses of lawsuit. Â The Cash App Class Action Settlement is in response to allegations of security and data exploitation impacting millions of US customers. Block Inc. (Cash App’s parent firm) has agreed to pay $15 million to resolve claims arising from data breaches that happened between August 23, 2018 and August 20, 2024.
Cash App Data Breach Settlement 2025 Details
| Defaulter | Cash App |
| Claim Deadline | November 18, 2024 |
| Final Approval Hearing | January 13, 2025 |
| Payment Amount | $2,500 |
| Category | Finance |
| Claim Website | cashappsecuritysettlement.com |
Cash App Class Action Lawsuit 2025
Cash App is a money transfer app that was introduced in 2013 but security problems have sparked worries, especially when it comes to data breaches involving private data. After a comprehensive investigation, Cash App agreed to pay a $15 million settlement after impacted users filed the class-action complaint. After accusations of fraudulent transactions and account access emerged, Cash App, which has over 56 million active users, experienced significant backlash.
Due to these breaches, which took place between August 23, 2018, and August 20, 2024, Cash App and Block (formerly Square) were sued in a class-action lawsuit. According to the plaintiffs, Cash App also handled user complaints improperly, allowing victims to bear the burden of identity theft and financial losses alone. Block chose to settle in order to prevent drawn-out legal disputes, even though it denied any illegal activity.
$2500 Cash App Class Action Settlement 2025 Eligibility
- Prior to August 20, 2024, you have to have an account on August 23, 2018.
- Without the user’s consent, Cash App services and privacy are utilized.
- You failed to fix a problem with a Cash App account or any associated bank account.
Cash App Settlement Payment Amount
The deadline for completing a claim form was November 18, 2024, for those who qualified. This was done by sending entries via online platform or by mail together with supporting documentation such police reports, receipts, or other similar correspondence. You will need to present your third-party paperwork to link it to an oversight in mistake resolution, an unauthorized account, or a data security issue involving your account.
Moreover, you have the option to submit a claim to receive compensation for lost time, that is capped at $25 per hour for a maximum of three hours, totaling $75, in addition to losses from recorded transactions due to an unauthorized account incident.
Cash App Settlement Payout Date
As part of a class-action settlement addressing security flow in the mobile payment software Cash software, users who have used the program to transfer and receive money, purchase Bitcoin, invest in stocks, and pay certain vendors might get up to $2,500. The final hearing was postponed to January 13, 2025, and certain deadlines were extended by the Court’s decision on November 7, 2024.
You can anticipate receiving payment within 9 to 12 months after the final hearing, according to the settlement trends. Class members who are eligible must submit a claim form by the deadline of November 18th, 2024, to qualify for the settlement. Even though paper forms were available for participants opting to submit their entries by mail, the claims process was made easier.
Each claim category’s primary supporting documentation, such as police reports, invoices, or letters attesting to the losses and efforts to make amends, must be provided. In addition to providing affected parties with financial compensation and a way to find closure, this settlement is a significant step towards fixing the alleged security vulnerabilities at Cash App. In the field of digital banking, the importance of robust security measures and timely customer support practices is also underlined.
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Samarth Choudhary is a Chief Editor at keralacobank.com. He has overall editorial experience of 10 years in online media. He has completed his graduation from University of California and masters in Finance from University of Dallas in year 2010. His major interest and expertise is in Finance, Taxes, Government Aid and Schemes. His Major focus is to help users to get relevant information which are published on keralacobank.com in easy and precise form.