News Summary

• Cash App, the fintech company owned by Jack Dorsey’s Block, is expanding its youth-focused services.
• The new program will let parents create financial accounts for children between the ages of six and 12.
• The children won’t have access to the app, and these accounts will be managed by their parents.
• The accounts can also receive P2P payments from a small number of approved users (such as grandparents), and will be eligible to earn up to 3.25% in interest.