DOJ and FTC Sue Fintech Firm Dave Over Alleged Deceptive Practices

The lawsuit accuses Dave Inc. and its CEO Jason Wilk of misleading advertising, hidden fees, and unclear cancellation policies.

The Department of Justice and Federal Trade Commission filed a civil enforcement action against Dave Inc. and CEO Jason Wilk for alleged violations of consumer protection laws.
The complaint claims Dave misled users by rarely offering the advertised 'up to $500' cash advances and charging undisclosed 'express fees' for instant access to funds.
The company is accused of misrepresenting how user tips are used, keeping most tips while falsely claiming they fund meals for children.
Dave allegedly enrolled users in recurring monthly memberships without clear disclosure or an easy cancellation mechanism, violating federal law.
The lawsuit seeks financial penalties, consumer redress, and a permanent injunction to prevent future violations, while Dave disputes the allegations and highlights recent changes to its fee structure.