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Mobile Apps › FinTech › Federal Trade Commission (FTC)

Robinson+Cole Data Privacy + Security Insider

Cleo AI Agrees to $17 Million Settlement with FTC

Robinson+Cole Data Privacy + Security Insider on

Sometimes, deals are too good to be true. That was the case for Cleo AI, an online cash advance company that promised consumers fast, up-front cash payments. According to the Federal Trade Commission (FTC), Cleo AI offered...more

Cozen O'Connor

Cash Advance Company to Pay $17 Million in FTC Settlement

Cozen O'Connor on

The FTC has reached a proposed settlement with Cleo AI, Inc., resolving allegations that the personal finance app violated the FTC Act and the Restore Online Shoppers’ Confidence Act through deceptive marketing and billing...more

Venable LLP

Cleo AI Settles with FTC for $17 Million for Alleged Misleading Practices and Autorenewal Violations

Venable LLP on

In one of the first settlements since the new administration took office, the Federal Trade Commission (FTC) announced a $17 million monetary judgment with Cleo AI to resolve allegations that Cleo violated Section 5 of the...more

Sheppard Mullin Richter & Hampton LLP

FTC Orders Fintech Company to Pay $17 Million for Allegedly Deceptive Subscription Practices

Sheppard Mullin Richter & Hampton LLP on

On March 27, the FTC announced that a fintech company offering cash advances through a mobile app has agreed to pay $17 million to resolve allegations that it violated the FTC Act and the Restore Online Shoppers’ Confidence...more

Orrick, Herrington & Sutcliffe LLP

FTC acts against fintech app for misrepresentations made about cash advances

Orrick, Herrington & Sutcliffe LLP on

On January 2, the FTC issued a complaint and stipulated order against a personal finance mobile application that offers its users short-term cash advances through “floats.” According to the complaint, the defendant...more

Eversheds Sutherland (US) LLP

Focus on Fintech: Senate Debates Bill Aimed at Online Marketplaces and App Stores

Eversheds Sutherland (US) LLP on

In line with the CFPB’s and FTC’s recent scrutiny of big tech companies, Senator Amy Klobuchar (D-MN) introduced the American Innovation and Choice Online Act (AICO Act) on October 18, 2021. The bill is co-sponsored by Sen....more

Perkins Coie

Fintech Week in Review: December 2020

Perkins Coie on

FTC Alleges Mobile App’s Deposit Promises Were Deceptive - Following a May 2020, civil investigative demand, the Federal Trade Commission (FTC) filed suit against the operators of a mobile banking app, alleging that they...more

Robins Kaplan LLP

Financial Daily Dose 12.16.2019 | Top Story: Boeing Execs Mull Halting 737 Max Production as FAA Clearance Stalls

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Boeing’s 737 MAX faces an uncertain future. Boeing is considering at least a temporary halt to its 737 Max production “as regulatory clearance for the grounded jet’s return looks increasingly likely to slip beyond January...more

Wilson Sonsini Goodrich & Rosati

Regulatory Landscape for Fintech, Electronic Commerce, and Electronic Banking: Part One

Wilson Sonsini Goodrich & Rosati on

Part 1: Electronic Commerce - This is the first part of a two-part article discussing the regulatory landscape for financial technology as applied to electronic commerce and electronic banking. This article focuses on...more

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