Friday, November 8, 2024
21 C
New York

FTC Challenges Neobank Dave Over Deceptive Marketing and Hidden Fees

  • The Federal Trade Commission (FTC) has filed a lawsuit against the neobank Dave, claiming the company misled consumers about cash advance amounts and charged undisclosed fees.
  • According to the FTC, Dave’s marketing inaccurately promised “up to $500” in instant cash advances, and additional fees were allegedly charged without clear consent.
  • Dave’s CEO defended the company’s practices, asserting transparency and compliance while committing to a strong defense.
  • The case underscores heightened regulatory scrutiny over fintech practices and consumer protections.

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...
Exit mobile version