AG Bonta announced a$2.9 million settlement with Block, Inc. (Block), the company behind the peer-to-peer payments app Cash App. This settlement is part of a larger, bipartisan multistate settlement totaling more than $45 million that resolves allegations that Block violated California’s Unfair Competition Law and False Advertising Law by misleading consumers about the safety of Cash App, failing to protect users from fraud on the platform, and failing to provide fraud protection and resolution services that it promised and that were required by law.

“Block told Cash App customers that their money was just as safe and secure as in a bank — which is not true — and then left its customers high and dry when things went wrong. Consumers were stranded: unable to access their money, vulnerable to scammers, and without any recourse or even a phone number to call when they found themselves victims of fraud. Our settlement today requires Block to immediately cease making misrepresentations, alert consumers of fraud, and provide customer service support to ensure consumers have someone to call when things go wrong. Importantly, today’s settlement ensures Block can’t go back on its already-brokered promise to the Biden Administration to provide redress to consumers it harmed.” -AG Bonta