Earned wage access company DailyPay has sued New York Attorney General Letitia James. The company’s suit, filed Monday (April 7), is aimed at stopping what DailyPay says is an attempt by James to block on-demand pay via New York’s usury laws. Those laws, the company...
Startup founder Charlie Javice has been convicted of defrauding JPMorgan Chase by misleading the bank about her customer base. A federal jury in Manhattan on Friday (March 28) found Javice — founder of student financial aid platform Frank — and fellow executive Olivier Amar guilty...
The Federal Trade Commission (FTC) has added more defendants in its case against student loan debt relief operation Superior Servicing and its operator, Dennise Merdjanian. The regulator’s amended complaint added corporate defendants Sunrise Solutions USA LLC, Alumni Advantage LLC, Student Processing Center Group LLC, SPCTWO LLC and Accredit LLC, and...
The Federal Trade Commission’s law enforcement actions resulted in $337.3 million in refunds to consumers in 2024. That total included $280.7 million in refunds directly from the FTC, with the remainder being returned to consumers by the defendants or other federal agencies administering the refund...
A federal judge wants more information on Elon Musk’s government cost-cutting project. As Reuters reported Thursday (March 13), U.S. District Judge Tanya Chutkan has ordered the Musk-led Department of Government Efficiency (DOGE) to turn over a variety of records and answer queries about their work at slashing...
Several insurance companies doing business as National General and Allstate are facing a lawsuit in which the New York State Attorney General alleges that they failed to protect the personal information of consumers. The Office of the Attorney General alleged in its lawsuit that National General failed to...
Revolut and Visa reportedly filed legal challenges against the U.K.’s Payment Systems Regulator (PSR), seeking to overturn the regulator’s proposed cap on interchange fees on cross-border online payments. The two companies argue that the regulator overstepped its powers with the plan it proposed in 2023,...
The Federal Trade Commission (FTC) said Tuesday (March 4) that a court granted its motion for a preliminary injunction against Seek Capital and its founder and CEO, Roy Ferman. The preliminary injunction, which was granted on Feb. 20, prohibits Seek Capital from making false claims related to small business...
Did Charlie Javice dupe JPMorgan Chase into buying her college financial aid startup Frank? Or did the world’s largest bank simply accuse Frank of fraud out of buyer’s remorse? Those will be the questions facing jurors as Javice’s trial continues in federal court in Manhattan...
