The Federal Trade Commission (FTC) announced on Tuesday it will be taking action against the online cash app and neobank Dave, which it says used “misleading marketing to deceive consumers.” At issue is how Dave marketed $500 cash advances to consumers that it rarely offered, and the “Express Fee”...
Apple’s recent move to boost the interest rate for its Apple Card Savings Account to 4.5% is now prompting a competitor to do the same. Cash App today announced it will now offer “up to” a 4.5% APY (annual percentage yield) for its Cash App Savings customers, with a...
A Y Combinator-backed startup called Cambio is bringing AI to the banking world in a surprising way: it’s putting AI bots on the phone with companies and consumers. The startup began by offering an AI-powered service that negotiated debt collections on behalf of consumers, which helped around 70% of...
Alinea Invest, a fintech app offering AI-powered wealth management aimed at Gen Z women, has $3.4 million in seed funding ahead of the launch of a virtual AI assistant that will help users with their investing needs. The fundraising comes on the heels of 225,000 downloads of Alinea’s app,...