Attorney General Nick Brown today announced two separate settlements with Block, the company behind the peer-to-peer payments app Cash App. First, the Attorney General’s Office (AGO) reached a $20 million settlement resolving its investigation into how Block handled fraudulently transferred unemployment deposits into Cash App accounts from Washington’s Employment Security Department during the pandemic.Second, Washington and a multistate coalition have resolved allegations the company misled consumers about Cash App’s safety, failed to protect users from fraud, and did not meet its own promises to consumers and obligations under the law. Washington will receive $1.8 million as part of a $45 million multistate settlement.

“Block presented Cash App as a safe alternative to a traditional bank but failed to create the robust protections and safeguards that Washington law requires. This is further notice that our office will fight back to protect consumers and taxpayers and hold financial companies accountable when they engage in deceptive practices.” – AG Brown