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In a significant development for users of the popular mobile payment platform, Cash App, a class-action lawsuit settlement has been finalized, promising payouts of up to $2,575 to eligible claimants.
The lawsuit, stemming from data breaches in 2022 and 2023, has led to a $15 million settlement fund established by Block, Inc., the parent company of Cash App.
The final approval for this settlement was granted on January 13, 2025, and payouts are anticipated to commence in June or July 2025.
Background of the Settlement
The class-action lawsuit, titled Salinas, et al. v. Block Inc., et al., was initiated following two significant data breaches:
- April 2022 Breach: An ex-employee of Cash App Investing accessed customer financial reports without authorization.
- October 2023 Breach: Unauthorized access occurred through recycled phone numbers linked to Cash App accounts.
These incidents compromised sensitive user information, leading to allegations of negligence and inadequate security measures against Block, Inc.
Eligibility Criteria
To qualify for a portion of the settlement, individuals must meet the following conditions:
- Usage Period: Used Cash App between August 23, 2018, and August 20, 2024.
- Data Compromise: Experienced unauthorized access to personal information or fraudulent transactions during the specified period.
- Claim Submission: Submitted a valid claim form by the deadline of November 18, 2024.
Payout Details
The settlement offers compensation for documented losses and time spent addressing issues related to the data breaches.
| Compensation Category | Amount | Requirements |
|---|---|---|
| Out-of-Pocket Expenses | Up to $2,500 | Proof of expenses such as credit monitoring, bank fees, or other related costs. |
| Lost Time | Up to $75 | Compensation at $25/hour for up to 3 hours spent resolving issues. |
The maximum payout per individual is $2,575, combining both categories.
Payment Timeline
Following the final court approval in January 2025, the settlement administrator is processing approved claims. Payments are expected to be disbursed via direct deposit or mailed checks in June or July 2025.
Checking Claim Status
To verify the status of your claim:
- Visit: Cash App Security Settlement Website
- Navigate: Click on the ‘Contact’ section and select ‘Contact Settlement Administrator’.
- Submit Inquiry: Fill out the form with your details, including Notice Claim ID and Confirmation Code, and submit your query regarding claim status.
Alternatively, you can call the Settlement Administrator at 1-866-615-9740 for assistance.
Correcting Claim Form Errors
If you need to amend your submitted claim form:
- Access: Go to the Fix Claim Page.
- Enter Details: Provide your Claim ID and Confirmation Code.
- Update Information: Make the necessary corrections and resubmit the form.
The Cash App settlement provides an opportunity for affected users to receive compensation for the inconveniences and losses suffered due to past data breaches.
With the final approval granted and payments anticipated in June or July 2025, eligible claimants should ensure their information is accurate and monitor communications for updates.
FAQs
What is the Cash App settlement about?
The settlement addresses data breaches in 2022 and 2023 that compromised user information, leading to a $15 million fund to compensate affected users.
How much compensation can I receive?
Eligible claimants can receive up to $2,575, combining out-of-pocket expenses (up to $2,500) and compensation for lost time (up to $75).
When will I receive my payment?
Payments are expected to be issued in June or July 2025, following the processing of approved claims.