(WKYT) – The Kentucky Attorney General’s Office announced on Wednesday that Kentucky will receive a settlement as part of a multi-state lawsuit against Block, the parent company of Cash App.
A 2021 investigation found that Block misrepresented Cash App’s safety and insurance coverage, failed to honor refund protections and wrongfully froze users’ accounts.
The settlement will pay $75- $ 120 million to Cash App users across the United States; additional legal action may be taken if Block does not pay $75 million by January 2030.
Kentucky will receive $556,445 from the settlement.
Attorney General Russell Coleman said the settlement is a victory for consumers.
“We’re proud to protect Kentucky consumers from predatory businesses. We are helping to make Kentuckians whole and putting into place safeguards that will help prevent Kentuckians from falling victim to fraud in the future,” he said.