Cash App customers that were impacted by data breaches and misappropriation of account information have a chance to recover some expenses, up to $2,500, as part of a $15 million settlement. The first data breach occurred in April 2022, and the second took place in October 2023. Cash App Investing denies any liability or wrongdoing of any kind associated with the claims in the lawsuit
The plaintiffs to the class action suit allege that Cash App Investing was negligent and breached other obligations to users when a former Cash App employee accessed account data without permission in 2022. In 2023, an unauthorized user accessed certain Cash App accounts using recycled phone numbers that were linked to the accounts.
According to the class action lawsuit, the former employee's actions and access to customer information resulted in 8.2 million Cash App customers' sensitive personal information being published online.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
You can only submit one claim per person, even if you have multiple Cash App Accounts. If you do have multiple Cash App Accounts, be prepared to list all of your $Cashtags on the claim form.
Who is eligible to file a claim for the settlement?
Those eligible to file for the settlement include current or former Cash App or Cash App Investing customers who used the app between Aug. 23, 2018 and Aug. 20, 2024, and suspect:
- Their Cash App account was accessed by an unauthorized entity
- There were fraudulent transactions on their account
- That a Cash App error resolution was inadequate
- That they saw sensitive personal information swiped via Cash App
How to submit a claim
To file a valid claim, Cash App users can submit a completed form by Nov. 18, 2024 for consideration. Users that were mailed or emailed a notice need to enter either a notice ID and confirmation code. You can still file a claim if you haven't received any notice by filling out this form.
The quickest way to submit a claim is online at cashappsecuritysettlement.com. Forms can also be submitted through the mail. You can print a form from the Settlement website and mail it to the Claims Administrator at the address on the form. Claim Forms are also available by calling 1-866-615-9740 or by writing to: Cash App Security Settlement Administrator 1650 Arch Street, Suite 2210 Philadelphia, PA 19103.
Expenses you can recover
Ultimately, settlement amounts will be determined by how many people file valid claims by the deadline. The maximum amount you can recover is $2,500. There are three classes of expenses eligible for reimbursement; out-of-pocket, lost time and transactional losses.
You'll need to provide third-party documentation showing what transactional losses occurred and any steps taken to report it. You can submit evidence of correspondence with Cash App relating to the incident, a police report, a report with your bank or credit union, or a report to the FTC or other government agency.
| Type of loss | Maximum amount allowed | Costs associated with: |
|---|---|---|
| Out-of-pocket losses | $2,500 | credit monitoring or identity theft insurance, requesting a credit report, credit freeze, |
| Row 1 - Cell 0 | Row 1 - Cell 1 | canceling a payment card and/or obtaining a replacement payment card |
| Row 2 - Cell 0 | Row 2 - Cell 1 | closing a bank account and/or opening a new bank account |
| Row 3 - Cell 0 | Row 3 - Cell 1 | unrefunded overdraft and/or overdraft protection fees, late and/or missed payment fees and/or charges |
| Row 4 - Cell 0 | Row 4 - Cell 1 | Miscellaneous expenses such as postage fees, long-distance phone charges, express mail, and other incidental expenses |
| Row 5 - Cell 0 | Row 5 - Cell 1 | Row 5 - Cell 2 |
| Lost time | up to three (3) hours at a rate of $25.00 per hour | for time spent mitigating losses |
| Row 7 - Cell 0 | Row 7 - Cell 1 | Row 7 - Cell 2 |
| Transaction losses | Row 8 - Cell 1 | unauthorized or fraudulent transactions |
How to get more information
If you have any questions or want more information, you call the Settlement Administrator at 1-866-615-9740, write to the Settlement Administrator via mail to Cash App Security Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103 or via email to info@cashappsecuritysettlement.com.
A final approval hearing is scheduled on Dec. 16, 2024 at 9:30 am PT. You can check the settlement website here and the Court’s docket for updates.
You may exclude yourself from the settlement by mailing a written notice to the Settlement Administrator, postmarked on or before Nov. 1, 2024
Related Content
-
Grandparents: How Do You Handle Gifts for the Grandkids?Can you give generously to grandkids without spoiling them or resorting to digital gifts? Here's how one grandmother and her friends have done it.
-
Three Common Cash Flow Mistakes and How to Fix ThemBetter cash flow management could have a bigger impact on your retirement savings than simply making more money. Here's how to manage that.
-
Trusts for Child Influencers: What Families Need to KnowAs video blogging, or vlogging, gains popularity (and profitability), new laws are shaping financial obligations for caregivers of young creators.
-
Three Easy Financial Tips to Help Make This Year a SuccessEarly in a new year is the perfect time to assess where you are financially. Start by ensuring you're protected from fraud and evaluating your investments.
-
Earn $75 in Uber Credits When You Sign Up For ClearClear will give new customers $75 in Uber credits when they sign up for a membership.
-
Is a Joint Bank Account Romantic or Risky?Considering a joint bank account with your partner? Discover the advantages and potential pitfalls to determine if it's the right choice for your relationship.
-
Are You a 'Midwestern Millionaire'? Four Retirement StrategiesMidwestern Millionaires might not live in the Midwest, but they share a saver's mindset. These strategies are for those who have saved $1 million or more.
-
Happy Valentine's Day: Are You Committing Financial Infidelity?You may not even realize you're betraying your partner's trust regarding money issues. Here are some strategies to prevent and address financial dishonesty.
