The FTC and DOJ have filed actions alleging some of Dave’s marketing was misleading — particularly promises of cash advance amounts and fee disclosures. Dave disputes these allegations and is defending itself in court. What are people’s thoughts about it?
I think it is immaterial. No fraud. The other companies in the same industry did the same stuff. These cases typically end in consent decrees with no admission of wrongdoing and tighter disclosure requirements. The case won’t hurt them financially. The only issue is reputation, so they have to communicate it well.
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