business
Cash App’s parent company settles $45M fraud protection lawsuit; Minnesota to get small slice
By Joseph Swanson at KSTP 5 Eyewitness News (ABC)
· July 8, 2026
· 2 min read
Cash App’s parent company has agreed to a $45 million multistate settlement to resolve allegations that it misled people about the app’s safety, failed to protect users from fraud and did not provide the fraud help required by law.
Minnesota will get approximately $639,000 from the settlement ...
Key takeaway 5%), according to the office of Attorney General Keith Ellison.
Why this matters in The Minneapolis
Minnesota's share of the settlement may be relatively small, but the impact of Cash App's alleged misconduct could be significant for the state's unbanked and underbanked communities. These individuals often rely on alternative financial services, making them more vulnerable to fraud and exploitation. The fact that Block aggressively marketed Cash App as a safe primary account to this demographic, despite knowing about internal fraud rates, raises concerns about the company's priorities. Attorney General Keith Ellison's criticism of Block's lack of live phone support for victims highlights the need for robust customer protection measures. As the settlement requires Block to maintain 24-hour live support for customers, Minnesotans who use Cash App can expect improved assistance in case of fraud. The settlement also underscores the importance of state-level oversight in holding financial companies accountable for their practices, particularly in protecting vulnerable populations.
About this story
Original reporting by KSTP 5 Eyewitness News (ABC) . The Minneapolis surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit KSTP 5 Eyewitness News (ABC) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: July 8, 2026 ·
Source: KSTP 5 Eyewitness News (ABC) ·
Reading time: 2 min
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Frequently asked about this story
What is this story about? Cash App’s parent company has agreed to a $45 million multistate settlement to resolve allegations that it misled people about the app’s safety, failed to protect users from fraud and did not provide the fraud help required by law.
Minnesota will get approximately $639,000 from the settlement ...
When was this published? This article was first published on July 8, 2026 by KSTP 5 Eyewitness News (ABC) and curated for The Minneapolis readers.
Who reported this story? This story was reported by Joseph Swanson at KSTP 5 Eyewitness News (ABC). To learn more about how The Minneapolis selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The Minneapolis, or browse our daily briefing and topic hubs .
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