Cash App Settlement: How Customers Can Claim Up to $2,500 Each
Background of the Settlement
Cash App customers may be eligible to claim more than $2,500 each as part of a $15 million settlement in a class-action lawsuit related to data and security breaches in mobile payment services. The lawsuit highlights incidents of unauthorized access and fraudulent transactions, prompting affected individuals to file claims if they had or currently have an account between August 23, 2018, and August 20, 2024.
Details of the Claims Process
Customers seeking to make claims can do so on the settlement website by providing specific information from notifications they received. The deadline to submit claims is November 18, and the amount individuals may receive will depend on the number of claims filed.
Compensation and Documentation Required
Customers impacted by data and security breaches can file a claim for up to $2,500 to cover out-of-pocket losses. This may include fees for credit monitoring, identity theft insurance, replacing payment cards, closing and opening bank accounts, overdraft fees, and late payment fees. Additionally, customers can claim compensation for up to three hours of lost time at a rate of $25 per hour. Documentation, such as police reports for transaction losses, will be required to support these claims.
In cases where the Settlement Fund may be insufficient to pay every claim in full, payments will be reduced proportionally. Customers also have the option to exclude themselves from the settlement by November 1 or object to the agreement before that date. Choosing to take no action may forfeit any potential payment and the right to file a separate lawsuit.
This settlement aims to address concerns raised by the class action lawsuit, with Cash App and Block committing to enhance data security measures. Despite denying any wrongdoing, the companies agreed to the settlement to resolve the claims made against them.
In conclusion, the Cash App settlement provides affected customers with an opportunity to claim compensation for financial losses experienced due to security breaches. By following the outlined claims process and providing the necessary documentation, individuals can potentially receive up to $2,500 each as part of the settlement agreement.
