Credit: C. Scott Brown / Android Authority
- The US Department of Justice has filed an amended complaint against fintech app Dave.
- The complaint alleges that Dave misled customers about potential cash advances of up to $500 and hidden fees.
- Dave has disputed the claims and has amended its fee structures since the original complaint was filed.
At a time of year when family finances can get stretched to the limit, the US Department of Justice (DOJ) is taking action against one
personal finance app. Fintech app Dave and its CEO, Jason Wilk, are the subject of a
scathing amended complaint that accuses the company of misleading financially vulnerable consumers with empty promises and hidden fees.
According to the DOJ, as earlier reported by
Reuters, Dave lured users with bold claims of cash advances “up to $500† a figure most consumers reportedly never saw. Instead, the complaint alleges many users received far smaller amounts or nothing at all. Users were also often hit with unexpected charges, such as “express fees†for instant access to funds and so-called “tips†that Dave automatically deducted without clear user consent.
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