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Fintech lender Dave accused of misleading needy borrowers | Semafor

US federal regulators accused a popular financial app of targeting struggling borrowers and misleading them about the terms of its cash advances, the latest blow to a generation of fintech firms that cast themselves as friendlier alternatives to mainstream lenders.The Federal Trade Commission sued Dave, whose early investors included billionaire Mark Cuban, NFL team owner Robert Kraft, and venture capital giant Tiger Global, in federal court today. The agency said the company misled consumers ab...

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