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.

Cash App was ordered to pay users refunds for its weak security procedures. Here's what users need to know about payments, timeline and more.

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.