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Cash App Settles Multi-State Fraud Claims | Texas News
Texas is set to receive nearly $5 million from a massive multistate settlement with Block Inc., parent company of Cash App, after regulators uncovered serious flaws in the app’s fraud protections and misleading claims about safety. The investigation revealed Cash App aggressively pushed direct deposits to users—even those vulnerable to fraud—while offering consumer safeguards far below industry standards. Now, under the agreement, Cash App must provide 24/7 customer support, stop making false safety claims, and significantly ramp up fraud prevention. The settlement sends a clear message…
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