Attorney General Dan Rayfield today announced a $45 million multistate settlement with Block, Inc., the company behind the popular peer-to-peer payments app Cash App. Oregon led the investigation along with Texas, securing meaningful relief for all 46 participating states. Oregon will receive $3 million from the settlement and will continue to monitor and ensure that Block carries out its obligation under its separate settlement with the CFPB to pay at least $75 million in consumer restitution.

“Cash App told people their money was safe, and millions of Oregonians and Americans believed them, including a lot of people who didn’t have other options. When things went wrong, Block left them with nowhere to turn. This settlement holds Block accountable and makes sure they can’t walk away from money they promised to pay back to consumers.” – AG Rayfield