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Violation Tracker Individual Record

Company: FloatMe
Penalty: $3,000,000
Year: 2024
Date: January 24, 2024
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: FloatMe agreed to provide $3 million in refunds to resolve FTC allegations that it made empty promises of quick and free cash advances to entice consumers to join its service, failed to deliver the promised advance amounts, made it difficult to cancel, and discriminated against consumers who receive public assistance. FloatMe was also being charged with making baseless claims that cash advance limits would be increased by an algorithm or another automated system.
Level of Government: federal
Action Type: agency action
Agency: Federal Trade Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.