Cash App, a widely used mobile payment service, has reached a $15 million class action settlement following allegations of unauthorized data access and fraudulent transactions affecting users between August 23, 2018, and August 20, 2024.
Eligible users may claim up to $2,500 for documented losses. This article provides comprehensive details on eligibility, claim submission, and key deadlines.
Background of the Settlement
The class action lawsuit against Cash App and its parent company, Block Inc., stems from two significant data breaches:
- April 2022 Incident: A former employee accessed customer information without authorization.
- October 2023 Incident: Unauthorized access occurred through recycled phone numbers linked to user accounts.
These breaches led to unauthorized transactions and compromised personal information, prompting legal action and the subsequent settlement.
Eligibility Criteria
To qualify for a portion of the settlement, individuals must meet the following conditions:
- Usage Period: Used Cash App or Cash App Investing services between August 23, 2018, and August 20, 2024.
- Unauthorized Access: Experienced unauthorized access to personal information or accounts.
- Fraudulent Transactions: Faced unauthorized withdrawals or transfers from their accounts.
- Error Resolution Issues: Encountered unresolved errors in Cash App accounts or linked financial accounts.
Compensation Details
Eligible claimants can receive compensation as follows:
- Out-of-Pocket Losses: Up to $2,500 for documented financial losses, including costs related to credit monitoring, bank fees, and other expenses directly resulting from the breaches.
- Lost Time: Reimbursement at $25 per hour for up to three hours (maximum $75) for time spent addressing issues related to the breaches.
- Transaction Losses: Additional compensation for specific documented fraudulent transactions.
Claim Submission Process
To file a claim, follow these steps:
- Confirm Eligibility: Ensure you meet the criteria outlined above.
- Gather Documentation: Collect evidence such as receipts, bank statements, credit reports, or police reports to substantiate your claim.
- Complete the Claim Form: Access and accurately fill out the claim form available on the official settlement website.
- Submit the Claim: Submit the completed form and supporting documents online or mail them to the designated address provided on the settlement website.
Key Deadlines
- Claim Submission Deadline: All claims must be submitted or postmarked by November 18, 2024.
- Final Approval Hearing: Scheduled for January 13, 2025. If the settlement receives court approval, payments will be processed subsequently.
Payment Distribution
The distribution of settlement funds is anticipated to commence by mid to late 2025. Factors influencing the timeline include:
- Claim Verification: Processing and validating submitted claims.
- Appeals Process: Potential delays if appeals are filed post-approval.
- Payment Method: Electronic payments (e.g., PayPal, Zelle, direct deposit) are expected to be faster than mailed checks.
Tracking Your Claim
To monitor the status of your claim:
- Contact the Settlement Administrator: Call +1-866-615-9740 with your Claimant ID and Confirmation Code.
- Check Official Communications: Regularly review emails from the settlement administrator for updates or requests for additional information.
- Monitor Payment Accounts: Keep an eye on your bank account or chosen payment method for the deposit.
Key Information at a Glance
| Aspect | Details |
|---|---|
| Settlement Amount | $15 million |
| Maximum Individual Payout | Up to $2,500 |
| Eligibility Period | August 23, 2018 – August 20, 2024 |
| Claim Submission Deadline | November 18, 2024 |
| Final Approval Hearing | January 13, 2025 |
| Payment Distribution | Expected mid to late 2025 |
| Contact Information | Settlement Administrator: +1-866-615-9740 |
The Cash App class action settlement offers affected users an opportunity to receive compensation for unauthorized access and fraudulent transactions experienced between August 23, 2018, and August 20, 2024 … Eligible individuals should act promptly to gather necessary documentation and submit their claims by the November 18, 202 … deadline to ensure consideration for compensation.
FAQs
What types of documentation are required to support my claim?
Acceptable documentation includes receipts, bank statements, credit reports, police reports, or any official correspondence that verifies unauthorized transactions or access.
Can I submit a claim if I no longer have a Cash App account?
Yes, both current and former users who meet the eligibility criteria can submit a claim.
How will I receive my settlement payment?
Payments will be made via the method selected during the claim submission process, such as direct deposit, PayPal, Zelle, or mailed check.