If You Like Throwing Money in the Fire, Dave is the App for You

Cash advance app burns through bank accounts

The Dave App wants your cash

Holiday spending can mean holiday debt.

But, not to fear! An app on your phone can solve all your money woes.

That’s right, the Dave App wants to help you out — by draining your bank account with ridiculous fees disguised as tips and short-term loans with triple-digit interest rates.

The picture above is from Dave’s winter solicitation — timed perfectly for the potential borrower feeling stressed post-holiday.

But taking out a quick loan from Dave is about as useful as throwing your cash in the nearest open fire.

I Told You Dave Wasn’t Very Nice

“Dave lured in consumers living paycheck-to-paycheck with false claims of big-dollar advances, then reached into their pockets to give itself a so-called ‘tip,’” said Samuel Levine, Director of the FTC’s Bureau of Consumer Protection. “Whether the products are called cash advances, payday loans, or something else, the FTC will take action to protect consumers from…