Overview of the Cash App Settlement Lawsuit

The Cash App settlement lawsuit stems from multiple data breaches that occurred in 2022 and 2023, compromising sensitive user information. These incidents led to a class action lawsuit against Cash App and its parent company, Block Inc., alleging negligence in protecting user data .

Details of the Settlement

In response to the lawsuit, Cash App agreed to a $15 million settlement. Affected users can claim compensation for:

• Out-of-pocket expenses: Up to $2,500 for documented losses such as unauthorized transactions, bank fees, and credit monitoring services.

• Lost time: Up to $75 for time spent addressing issues related to the breaches, calculated at $25 per hour for a maximum of three hours .

Eligibility Criteria

To be eligible for compensation from the Cash App settlement lawsuit, you must:

• Have used Cash App between August 23, 2018, and August 20, 2024.

• Have experienced unauthorized access to your account or personal information.

• Provide documentation supporting your claim, such as bank statements or fraud reports .

How to File a Claim

Follow these steps to file your claim:

1. Visit the official settlement website: cashappsecuritysettlement.com

2. Complete the claim form: Provide necessary details about your Cash App account and the impact of the data breaches.

3. Submit supporting documentation: Include evidence of losses, such as receipts or bank statements.

4. Submit your claim: Ensure all information is accurate before submission.

The deadline to file a claim is November 18, 2024. A final approval hearing is scheduled for January 13, 2025 .

Importance of the Settlement

The Cash App settlement lawsuit highlights the critical importance of data security in financial applications. It serves as a reminder for companies to implement robust security measures to protect user information and for users to remain vigilant about their digital financial activities.