FTC Accuses Cash-Advance App of Misleading Consumers

Cozen O'Connor
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  • The FTC has filed a lawsuit against online cash advance app Dave, Inc. alleging that it misled consumers about cash advances and fees in violation of the FTC Act and the Restore Online Shoppers’ Confidence Act.
  • According to the complaint, Dave allegedly advertises instant short-term cash advances of up to $500 but offers most customers much smaller amounts, misrepresents the necessity of paying “tips” and other fees, fails to provide required disclosures, fails to obtain express informed consent before charging customers, and fails to provide a clear way to stop recurring charges.
  • The lawsuit seeks injunctive and monetary relief, among other relief.
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