The FTC yesterday filed a complaint and stipulated order against Bridge, It (dba “Brigit”), a fintech company that operates a personal finance mobile application that advertises cash advances to consumers. According to the complaint, Brigit targeted low income consumers with offers for short-term cash advances of “up to $250” if they enrolled in a $9.99 per month membership program. The FTC alleged that only approximately 1% of customers actually received access to the $250 advance and approximately 20% were denied access to cash advances entirely.
https://www.kelleydrye.com/viewpoints/blogs/ad-law-access/ftc-alleges-fintech-provider-engaged-in-dark-patterns-concealed-fees-for-cash-advances-in-reaching-18-million-settlement
Donnelly McDowell
dmcdowell@kelleydrye.com
(202) 342-8645
https://www.kelleydrye.com/people/donnelly-l-mcdowell
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