AG Kaul announced a $45 million multistate settlement with Block, Inc., the company behind the popular peer-to-peer payments app Cash App. The settlement resolves allegations that Block misled consumers about the safety of Cash App, failed to protect users from fraud on the platform, and didn’t provide the fraud protection and resolution that it promised and that was required by law. Over $650,000 of the $45 million settlement will be paid by Block to the state of Wisconsin.

“Consumers who entrust a company with their money should be provided with a clear picture of how safe their money will be. Companies that take responsibility for people’s money must not mislead their users or customers about the strength of their consumer protections.” -AG Kaul