US Files Complaint Against Fintech App Dave And Its CEO

The U.S. Justice Department has filed a complaint and announced a civil enforcement action 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.

Re:

[bn-7bc]

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.

That's a people name

[BigEddieD]

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:

[Beerismydad]

I assume the branding consultants dissuaded the creators from their first choice, "Douchebag Dave".

I'm sorry, Dave...

[sacrilicious]

... you can't do that.

Re: I'm sorry, Dave...

[LindleyF]

/thread

Where did you get the money from?

[thegarbz]

Dave. It boggles my mind that a fintech startup would use a name that sounds incredibly dodgy, but doesn't remotely surprise me when it turns out to actually be so.

Re:

[kwelch007]

Could've been "Chad."

Dave

[Local ID10T]

Dave's not here, man.

Who, doing what?

[RockDoctor]

Never heard of them, and only have a very vague concept of what "fintech" is - I'm guessing it's nothing to do with designing a better fish?

In the SF world - at least that section not dominated by hundred-million dollar bills for CGI - "DAVE" is frequently a backronym for "Dangerous And Very Expensive". Which might be a good summary for "fintech" too.

No Dave Listers have had their reputation harmed by this rumour. Either of them.