Block reaches $45M settlement with 46 states over Cash App fraud probe

Block, the parent company of Cash App, announced a settlement with state regulators. The agreement involves 46 U.S. states. The settlement amount is $45 million. The deal resolves a probe into alleged fraud involving Cash App. State authorities had been investigating the payment platform. Block did not admit wrongdoing as part of the settlement. The settlement aims to address consumer protection concerns. The company will continue to operate Cash App while complying with the agreement.