Attorney General Phil Weiser today 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. Colorado was one of the main states on the case and will receive $1,663,539 from the settlement.

“For years, Block told consumers that their money was safe using Cash App, just like with a bank. Yet, the company knew this wasn’t true and that their fraud prevention measures were flawed and even enabled fraud. And when something went wrong—an account lock out or account suspension for example—consumers had nowhere to go for help. Today’s settlement requires Block to implement antifraud measures and provide customer support to resolve account issues, among other things. We’ll continue to hold companies accountable when they violate our consumer protection and consumer lending laws." – AG Weiser