Reported 20 days ago
The U.S. Federal Trade Commission has filed a lawsuit against financial technology company Dave Inc., alleging that its advertising of cash advances up to $500 misleads users, with many not receiving the full amount or any advance at all. The FTC claims that while the app targets users in financial distress, it fails to disclose significant fees, including a $25 instant cash fee and a monthly $1 charge, along with misleading messaging about the use of collected tips.
Source: YAHOO