Block Agrees to Pay $45 Million to Settle Cash App False Advertising Claims

Block agreed to pay $45 million to settle claims from regulators in most U.S. states alleging false advertising related to Cash App. According to NS3.AI, regulators said Cash App promoted bank-like protections. Regulators involved included the New York Attorney General's Office. Block said it did not admit legal liability or wrongdoing as part of the settlement.