Cash App Users Awarded $15M Settlement

Cash App has agreed to a proposed settlement of $15 million in a class-action lawsuit over its response to multiple data breaches—and if you were affected, your slice of the pie could be up to $2,500, plus up to $75 for lost time. The plaintiffs accused the mobile payment firm and its parent company, Block, of negligence connected to two data breaches, CBS News reports. They said Cash App didn't do enough to block unauthorized users and mishandled customer complaints. A settlement website states that CashApp and Block "contest these claims and deny that they did anything wrong."

• Who qualifies. According to the settlement website, you qualify for a payout if you're a current or former Cash App customer and your information or account was "accessed or obtained without your authorization, or if you otherwise had unauthorized or fraudulent withdrawals or transfers of funds to or from, or a deficiency in the resolution of an error in a Cash App account or any linked financial account" at any point over the last six years.

• The breaches. According to the lawsuit, a Dec. 2021 data breach involving a former employee resulted in the "unauthorized release" of the "personally identifiable information" of 8.2 million current and former customers, USA Today reports. Another breach occurred in 2023 when an unauthorized user accessed accounts.
• How much people will get. People can apply for reimbursement of "out-of-pocket" losses up to $2,500, plus reimbursement for up to three hours of time lost dealing with the breaches at $25 per hour, But if the $15 million doesn't cover every approved claim, the payouts will be reduced proportionately, the Washington Post reports. Those who lost money in unauthorized withdrawals and have not been reimbursed yet can also file a "transaction losses" claim.
• How to apply. Claims can be submitted here. According to the settlement website, the deadline to submit a "timely and valid" claim is Nov. 18.
• What it covers. "Out-of-pocket losses" include the costs of credit monitoring, as well as the costs of opening or closing bank accounts and getting replacement cards, CBS reports. They also include overdraft and late payment fees.

(More data breach stories.)