CONSUMERS WERE LEFT HIGH AND DRY: ATTORNEY GENERAL BONTA SECURES $45 MILLION SETTLEMENT WITH BLOCK OVER DISHONEST PRACTICES ON CASH APP

SACRAMENTO, Calif., July 8 -- The California Attorney General issued the following press release:

Settlement also prevents the company from evading the payment of up to $120 million in consumer redress pursuant toa separate CFPB settlement

OAKLAND- California Attorney General Rob Bontatoday announced joining a bipartisan coalitionof 46attorneys general in securing a $45 million multistate settlement with Block, Inc. (Block), the company behind the peer-to-peer payments app Cash App. The settlement resolves allegations that Block violated California's Unfair Competition Law and False Advertising Law bymisleadingconsumers about the safety of Cash App, failingto protect users from fraud on the platform, and failing to provide fraud protectio...