CashApp Customers Could Get a Refund for Fraud Protection Failures After CFPB Ruling
After the parent company of the application was fined $ 175 million for “weak” security measures and bad customer service, Cash APP users who were fraudulent might get money.
The Consumer Financial Protection Bureau accuses the Cash APP’s parent company, Block, Inc. has unfair customer behavior, and ordered the company to pay a fine for the following violations:
- There is no effective customer service for Cash App customers to solve the problem in time. The bureau’s report said that the hotline of false customers steal customer information.
- No proper measures are taken “detection, restricting and solving fraud on the Cash APP”.
- Use the refund process instead of timely investigating and resolving unauthorized trading disputes.
- Crazy to protect customers from unauthorized transfer and their customers to support the telephone line.
CFPB ordered Block to update its business practice to comply with the law, pay $ 75 to $ 120 million in unauthorized transfer users, and impose a fine of US $ 55 million to the Relief Fund of the CFPB victims.
Brock agrees with the reconciliation plan, but does not agree with CFPB’s description of the company’s behavior.
In a statement, the company stated: “We decided to solve this problem so that it could be left behind and focused on the most favorable things to our customers and our business.” Online statementEssence “The historical issues raised in this agreement do not reflect today’s experience of the Cash APP.”
The statement said that the Cash APP now has a variety of ways to get real -time support and has online controversy tools. The payment application also provides a payment warning tool. If your transaction may be part of fraud, it can help remind you.
If you report unauthorized transactions Cash application And without customer support, you may have the right to get a refund. This is what you need to know.
How to get a refund from the CASH APP
If you think you are affected by the illegal behavior of the Cash APP, you don’t need to take any measures to apply for a refund. exist Most casesThe company pays CFPB, and then the federal agency or payment management agency will distribute the refund to the affected parties. It is unclear how much money or refund time can be received from the Cash APP.
At present, you can view your emails and physical emails to get more information. You can also check your bank account to get a settlement refund. When we know more information, we will notify you in time.
If you have other questions, you can contact the CASH APP customer to support the hotline: 1-800-969-1940.
