US Files Complaint Against Fintech App Dave And Its CEO (reuters.com)
(Tuesday December 31, 2024 @11:44AM (msmash)
from the PSA dept.)
- Reference: 0175807821
- News link: https://news.slashdot.org/story/24/12/31/1512212/us-files-complaint-against-fintech-app-dave-and-its-ceo
- Source link: https://www.reuters.com/legal/us-announces-civil-enforcement-action-against-fintech-app-dave-its-ceo-2024-12-30/
The U.S. Justice Department has filed a complaint and announced a civil enforcement action [1]against financial technology company Dave and its CEO Jason Wilk for alleged violations of federal law. From a report:
> The Justice Department and the Federal Trade Commission alleged the company lured users to its personal finance app by advertising cash advances of up to $500 that many never receive.
>
> The complaint, filed by the Justice Department, seeks unspecified amounts of consumer redress and monetary civil penalties from the defendants and a permanent injunction to prohibit them from engaging in future violations, the Justice Department said. The government alleges that Dave misled consumers by deceptively advertising its cash advances, charging hidden fees, misrepresenting how Dave uses customers' tips and charging recurring monthly fees without providing a simple mechanism to cancel them.
[1] https://www.reuters.com/legal/us-announces-civil-enforcement-action-against-fintech-app-dave-its-ceo-2024-12-30/
> The Justice Department and the Federal Trade Commission alleged the company lured users to its personal finance app by advertising cash advances of up to $500 that many never receive.
>
> The complaint, filed by the Justice Department, seeks unspecified amounts of consumer redress and monetary civil penalties from the defendants and a permanent injunction to prohibit them from engaging in future violations, the Justice Department said. The government alleges that Dave misled consumers by deceptively advertising its cash advances, charging hidden fees, misrepresenting how Dave uses customers' tips and charging recurring monthly fees without providing a simple mechanism to cancel them.
[1] https://www.reuters.com/legal/us-announces-civil-enforcement-action-against-fintech-app-dave-its-ceo-2024-12-30/
That's a people name (Score:1)
by BigEddieD ( 9191421 )
Who gives their company a people name? I get giving dogs and cats people names...and I even see people who were given 'pet' names (or worse, cough, Khaleesi, cough). But how are you supposed to complain without having to specify that no, it wasn't Dave Dave who fucked me out of $500, becuase Dave isnt here man, it was Dave...
Re: (Score:2)
So you have to contact your lawyer evry time you need to log in to your bank ( I assume they require 2fa its almost 2025 after all) , that sonds secure, but it sounds neither convenient nor cheap. I guess I must have completely misunderstood your comment.