Texas attorney general lands $45 million set­tle­ment with Cash App 

(Legal Newsline) – Texas Attorney General Ken Paxton has secured a $45 million multistate settlement with Block, Inc., the company behind the popular payment app Cash App.

Cash App allows users to transfer money to other users.

The settlement resolves allegations that the company misled consumers about the safety of its platform and failed to provide protection and resolution from fraud as marketed and required by law.

According to the Office of the Attorney General, the company aggressively promoted direct deposit of paychecks and government benefits into Cash App for years, specifically targeting consumers who would come to rely on the app as their primary financial account.

Paxton co-led the multistate investigation into Cash App, which was joined by 45 other states. The investigation found that Cash App marketed its platform as a safe, bank-like alternative, which was done despite fraud on the app rising sharply and its consumer protections failing to keep pace with thos...