New York State will receive $1.6 million as part of a settlement with Block, Inc., the company behind the popular peer-to-peer payments app Cash App. This after a coalition of 46 attorneys general, including New York's Letitia James, secured $45 million this week from Block. The coalition alleges that Block failed to help users when they were scammed, misled consumers about the safety of Cash App, and failed to provide the fraud protection and resolution that it promised and was required to provide by law. As part of the settlement, Block must implement changes to protect users from fraud, ensure users have access to live customer service agents, and stop all misleading marketing.
