Cash App owner to pay $45 million to settle allegations of lax security

Block, Inc, the owner of Cash App, has agreed to a $45 million settlement due to allegations of inadequate security measures. The settlement was announced by state attorneys general and is the result of a bipartisan agreement. According to the allegations, Block, Inc incorrectly claimed that Cash App provided users with the same level of protection as a traditional bank. This settlement resolves the allegations made against the company. The agreement was reached on Wednesday.