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Cashapp

All articles tagged with #cashapp

business1 year ago

Last Chance to Claim Up to $2500 from Cash App's $15M Settlement

Cash App customers can claim compensation from a $15 million settlement due to alleged inadequate security measures leading to unauthorized access and transactions. Although Cash App denies wrongdoing, they agreed to the settlement to avoid litigation costs. Eligible users affected between August 23, 2018, and August 20, 2024, can claim up to $2,500 for losses and additional compensation for lost time. Claims must be submitted by November 18, 2024.

via Yuvagalam|
#business#cashapp#compensation
finance1 year ago

Final Days to Claim Your Share of Cash App's $15M Settlement

Cash App users have until next week to claim part of a $15 million settlement from a class action lawsuit against Cash App Investing and Block Inc. The lawsuit alleged negligence in handling unauthorized access to user accounts by a former employee. Eligible users, whose accounts were accessed without permission or experienced unauthorized transactions since August 23, 2018, can file claims for up to $2,500 by November 18, 2024. The settlement addresses data security incidents disclosed in 2022 and 2023.

via The Verge|
#blockinc#cashapp#classaction
finance1 year ago

Final Days to Claim Cash App Settlement for Data Breach

Cash App users in New York who experienced unauthorized access to their accounts have until November 18, 2024, to file claims for compensation from a $15 million settlement. The settlement follows a class action lawsuit alleging Cash App failed to prevent unauthorized access and mishandled customer complaints after data breaches in 2021 and 2023. Eligible users can claim up to $2,500 for out-of-pocket losses and lost time, provided they submit necessary documentation.

via Democrat & Chronicle|
#cashapp#consumerprotection#databreach
business1 year ago

Cash App Settlement Deadline Approaches: Claim Up to $2,570 Now

Cash App users have until November 18, 2024, to claim part of a $15 million settlement from a class action lawsuit against Block Inc. and Cash App Investing. The lawsuit accused the companies of negligence after unauthorized access to user accounts in 2022 and 2023. Eligible users must have experienced unauthorized account access or fraudulent transactions between August 23, 2018, and August 20, 2024. Claimants can receive up to $2,500 for losses and $75 for lost time, with a final settlement approval hearing set for January 13, 2025.

via The Hill|
#blockinc#business#cashapp
crime2 years ago

"Federal Charges Filed Against 2 Men in Massive Michigan Gun Store Robbery"

Two men in Michigan have been charged with multiple felonies after allegedly stealing over 100 guns from a sporting goods store. The men are accused of blindfolding and handcuffing the store manager, forcing him to reveal security details before entering the store and stealing the firearms. The charges include robbery, using a firearm during a crime, stealing firearms from a licensed dealer, and possessing stolen firearms. The stolen guns, valued at nearly $100,000, were recovered by investigators. The case highlights the issue of illegal guns entering communities and the black market for stolen firearms.

via Detroit Free Press|
#cashapp#crime#federal-charges
finance2 years ago

CFPB warns against storing money in payment apps like Venmo and PayPal.

The Consumer Financial Protection Bureau (CFPB) has warned Americans against keeping their money in payment apps like Venmo, PayPal, and CashApp, as they may not provide federal deposit insurance through the Federal Deposit Insurance Corporation or the National Credit Union Administration. If one of these payment apps failed or went bankrupt, consumers could risk losing their money. The CFPB advises consumers to move any money held in a payment app to a federally-insured account to avoid risking their money. The CFPB also noted that 3 in 4 Americans use a payment app, and these companies often invest in the funds that are kept on their apps, allowing them to make money off of their users.

via Yahoo Finance|
#cashapp#federal-deposit-insurance#finance
finance2 years ago

Financial watchdog warns of payment app vulnerability for stored money.

The Consumer Financial Protection Bureau has warned customers of Venmo, PayPal, and CashApp not to store their money with those apps for the long term because the funds might not be safe during a crisis. Money stored in Venmo or CashApp or Apple Cash is not being held in a traditional bank account, so if there is an event similar to a bank run with those payment apps, those funds may not be protected.

via KABC-TV|
#cashapp#consumer-financial-protection-bureau#deposit-insurance
finance2 years ago

Financial watchdog warns of vulnerability in payment app funds.

The Consumer Financial Protection Bureau has warned customers of Venmo, PayPal, and CashApp not to store their money with those apps for the long term because the funds might not be safe during a crisis. Money stored in Venmo or CashApp or Apple Cash is not being held in a traditional bank account, so if there is an event similar to a bank run with those payment apps, those funds may not be protected. The Federal Deposit Insurance Corporation insures bank accounts up to $250,000, but generally, by default, the apps are not covered by deposit insurance.

via WOODTV.com|
#cashapp#consumer-financial-protection-bureau#deposit-insurance
finance2 years ago

Financial watchdog warns against storing money in payment apps like Venmo and Cash App.

The Consumer Financial Protection Bureau has warned customers of Venmo, PayPal, and CashApp not to store their money with those apps for the long term because the funds might not be safe during a crisis. The Federal Deposit Insurance Corporation insures bank accounts up to $250,000, but money stored in Venmo or CashApp or Apple Cash is not being held in a traditional bank account. The CFPB said that some of the funds may be eligible for pass-through insurance coverage if customers do certain activities with the apps, but generally, by default, the apps are not covered by deposit insurance.

via KTLA Los Angeles|
#cashapp#deposit-insurance#finance
finance2 years ago

Financial watchdog warns of vulnerability in payment app funds.

The Consumer Financial Protection Bureau has warned customers of Venmo, PayPal, and CashApp not to store their money with these apps for the long term because the funds might not be safe during a crisis. Money stored in these payment apps may not be protected in the event of a bank run or financial distress, as they are not held in a traditional bank account and lack individual deposit insurance coverage. While some funds may be eligible for pass-through insurance coverage, customers may not fully appreciate when or under what conditions they would be protected.

via The Associated Press|
#cashapp#consumer-financial-protection-bureau#deposit-insurance
crime2 years ago

Uncharged domestic battery citation for suspect in CashApp founder's murder raises questions.

The suspect accused of killing CashApp founder Bob Lee, Nima Momeni, was cited for misdemeanor battery in 2022 after a woman reported he attacked her, but was never charged. Lee was stabbed to death in San Francisco on April 4, and Momeni was booked on one charge of murder. In the earlier incident, an unnamed woman called police saying she was attacked at Momeni's loft in Emeryville.

via CNN|
#bob-lee#cashapp#crime
crime2 years ago

Tech consultant's alleged deliberate attack leads to Cash App founder's death.

Nima Momeni, who is accused of killing CashApp founder Bob Lee, planned and deliberately attacked him after confronting him about Momeni's sister, according to court documents. Lee was stabbed three times with a kitchen knife and died from his injuries. Momeni was arrested and appeared in court, where he was ordered to be detained without bail. He could face 26 years to life in prison if convicted. Momeni's attorney said that the facts of the case will come out over time.

via Business Insider|
#bob-lee#cashapp#crime
crime2 years ago

Tech entrepreneur arrested for Cash App founder's killing in San Francisco.

San Francisco police have arrested Nima Momeni, an IT consultant and entrepreneur, in connection with the fatal stabbing of CashApp founder Bob Lee on April 4. Momeni was booked on suspicion of murder and has a previous record of misdemeanors. The arrest has brought relief to the tech community and city leaders who were concerned about a crime wave in San Francisco.

via San Francisco Chronicle|
#arrest#bob-lee#cashapp