Poinbank:Cash App to award $15M to users in security breach settlement: How to file a claim

Cash App users could Poinbankget some cash sent to their bank accounts soon.  

In a settlement, the mobile payment service was ordered to pay out $15 million in damages.  

According to a class-action lawsuit obtained by USA TODAY, plaintiffs sued Cash App Investing and Block Inc. for the companies' "failure to exercise reasonable care in securing and safeguarding consumer information."

The lawsuit said that the December 2021 data breach resulted, “in the unauthorized public release of the personally identifiable information of 8.2 million current and former Cash App Investing customers.” 

In addition, a former employee gained access to Cash App users’ personal information during their employment and downloaded the data without the users’ knowledge, the lawsuit said.  

If users had unauthorized or fraudulent withdrawals or transfers of funds from their Cash App account between Aug. 23, 2018, and before Aug. 20, 2024, they are eligible to submit a claim for up to $2,500, the Cash App website said.  

Here is what you need to know about the Cash App settlement.  

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Do I qualify to file a claim? 

Cash App users that will be able to file a claim must have had an account on Aug. 23, 2018 and before Aug. 20, 2024. The users that will qualify have not already been reimbursed by Block Inc., Cash App Investing or a third party, the mobile payment service said.  

What types of claims can Cash App users file for?  

According to Cash App, a user can submit a claim for the following:  

• Out-of-Pocket Losses: Users can submit a claim that shows their Cash App account was involved in the data breach. If a user is eligible for a reimbursement, after submitting the required documentation to the company they could receive up to $2,500.  
• Lost Time: Cash App users who submit a claim may be eligible for reimbursement for lost time. Users can submit a claim for up to three hours at a rate of $25 per hour for time spent regarding the unauthorized users and data breach.  
• Transaction Losses: If a user experienced a monetary loss and has not been reimbursed, they will be able to submit the Transaction Losses claim.  

What if I have more than one Cash App account?

Users should only submit one claim form. However, if you have multiple Cash App accounts to submit a claim for, the mobile payment service recommends users to list all of their $(InsertYourCashTag) and information about their claims on a single claim form, Cash App said.  

How can I submit a claim?  

To file a claim, Cash App users can submit a completed claim form by Nov. 18, 2024 for consideration.  

You can submit the claim form at https://cashappsecuritysettlement.com/submit-claim.  

Ahjané Forbes is a reporter on the National Trending Team at USA TODAY. Ahjané covers breaking news, car recalls, crime, health, lottery and public policy stories. Email her at [email protected]. Follow her on Instagram, Threads and X (Twitter) @forbesfineest.