In a significant move by the Consumer Financial Protection Bureau (CFPB), Cash App has been mandated to refund $120 million to its users. This decision comes after the platform's failure to adequately address fraudulent transactions and customer service deficiencies.

If you use Cash App and are now wondering if you need to take action in getting a possible refund, there’s actually further good news: In most cases, after a company pays its finds to the CFPB, the refunds are automatically distributed to all impacted parties, either through the CFPB or a payment administrator.

Cash App will have to pay up to $120 million to customers who lost money to scammers and fraud on the money-sharing app.