What You Need to Know
- Six online cash advance apps were sued in courts across the country in April and March for allegedly preying on vulnerable military service members.
- The claims alleged that they violated the Military Lending Act and Truth in Lending Act.
- Three of the companies—Dave, Brigit and FloatMe—have already been sued by the FTC.
At least six online cash advance companies were hit with class actions across the country alleging they preyed on active-duty military service members and their dependents in March and April.
The suits were filed between March 17 and April 10 against MoneyLion Technologies Inc., doing business as MoneyLion; Bridge It Inc., doing business as Brigit; Albert Corp. and Albert Cash LLC; Empower Finance, doing business as Empower; Dave Inc. and Evolve Bank & Trust; and FloatMe Corp. in the New York Supreme Court, the Los Angeles Superior Court, the Superior Court of San Francisco and the U.S. District Court for the District of Massachusetts.
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