The U.S. Department of Justice and Federal Trade Commission have filed legal actions against fintech company Dave and its CEO, Jason Wilk, accusing the company of deceptive advertising practices related to cash advances, hidden fees, misuse of customer tips, and poor cancellation processes.

The complaint seeks penalties, consumer refunds, and measures to prevent future violations.

Dave denies the allegations and has introduced a new fee structure, eliminating criticized tips and express fees, effective December 4 for new users, Dig Watch has reported.

The updated complaint now includes the CEO and aims for broader accountability.

Written by B.C. Begley