Kentucky Attorney General Russell Coleman has announced a $45 million national settlement with CashApp/Block, in which Kentucky joined 45 other states in alleging unfair and deceptive business practices by the financial platform.
The investigation, begun by the multi-state coalition in 2021, found Block misrepresented CashApp’s safety and insurance coverage, failed to honor refund protections, and wrongfully froze innocent users’ accounts.
General Coleman secured a total of $556,445.47 for defrauded Kentucky CashApp users as well as an agreement for CashApp to strengthen its security and customer service. Changes include 24-hour live customer support, anti-fraud safeguards reporting to the AGs and procedures for notifying consumers of account suspensions, deactivations and locks.
“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,” Coleman said.
The 46-state group of Attorneys General has locked in $75–120 million to provide direct relief to CashApp users nationwide. Additional legal action will be taken if Block has not paid at least $75 million in consumer redress by January 2030.
Matt Cocanougher and Lindsey Antos with the Attorney General’s Office of Consumer and Senior Protection represented the Commonwealth in the case.
You can read the 27-page settlement here. It consists of a final judgment and the consent order, which was filed at Scott Circuit Court in Georgetown.
AG Russell Coleman - Kentucky Today File photo
