Cash App Data Security Settlement: 10 Key Points You Need to Know

1. What is the Cash App data security settlement?

The Cash App data security settlement is a $7.5 million agreement between the Consumer Financial Protection Bureau (CFPB) and Square, Inc., the parent company of Cash App. The settlement resolves allegations that Square failed to protect the personal and financial information of Cash App users.

2. What information was compromised?

The compromised information included names, addresses, email addresses, phone numbers, and dates of birth. In some cases, Social Security numbers and driver's license numbers were also compromised.

3. How many users were affected?

Approximately 8.2 million Cash App users were affected by the data breach.

4. What caused the data breach?

The data breach was caused by a software vulnerability in Cash App that allowed unauthorized access to user data.

5. What Square has done to address the data breach

Square has taken a number of steps to address the data breach, including:

• Notifying affected users
• Offering free credit monitoring and identity theft protection
• Implementing new security measures to prevent future breaches
• Hiring an independent security firm to conduct a review of its security practices

6. What you can do to protect yourself

There are a number of things you can do to protect yourself from data breaches, including:

• Use strong passwords and do not reuse passwords across multiple accounts
• Enable two-factor authentication
• Be cautious about clicking on links or downloading attachments from unknown senders
• Keep your software up to date
• Monitor your credit reports and bank statements for unauthorized activity

7. What the CFPB has said about the settlement

The CFPB has said that the settlement is "a significant step forward in holding companies accountable for protecting consumer data." The CFPB also said that the settlement "sends a clear message that companies must take reasonable steps to protect consumer information."

8. What Square has said about the settlement

Square has said that the settlement "resolves a legacy matter" and that the company is "committed to protecting the privacy and security of our customers."

9. What does the settlement mean for Cash App users?

The settlement provides some relief to Cash App users who were affected by the data breach. However, it is important to note that the settlement does not provide any compensation for damages that users may have suffered as a result of the breach.

10. What should Cash App users do now?

Cash App users should take steps to protect themselves from data breaches, such as using strong passwords, enabling two-factor authentication, and being cautious about clicking on links or downloading attachments from unknown senders. Users should also monitor their credit reports and bank statements for unauthorized activity.

6 FAQs About the Cash App Data Security Settlement

1. Who is eligible for the settlement?

All Cash App users who were affected by the data breach are eligible for the settlement.

2. How can I make a claim?

You do not need to take any action to make a claim. Square will automatically notify affected users and provide instructions on how to claim benefits.

3. What benefits are available under the settlement?

Affected users can claim free credit monitoring and identity theft protection.

4. What is the deadline to file a claim?

The deadline to file a claim is [Date].

5. What if I have already incurred damages as a result of the data breach?

The settlement does not provide any compensation for damages that users may have suffered as a result of the data breach.

6. What can I do to protect myself from data breaches?

There are a number of things you can do to protect yourself from data breaches, including:

• Use strong passwords and do not reuse passwords across multiple accounts
• Enable two-factor authentication
• Be cautious about clicking on links or downloading attachments from unknown senders
• Keep your software up to date
• Monitor your credit reports and bank statements for unauthorized activity

4 Tables on the Cash App Data Security Settlement

Table 1: Timeline of events

Table 2: Types of information compromised

Table 3: Square's response to the data breach

Table 4: CFPB's statement on the settlement