This Black Friday, a cartoon bear wants you to buy now and pay later — I’ve written a lot about the pain of buy now, pay later loans. In short, while Buy Now, Pay Later CAN provide relatively easy access to small-dollar credit at rates that are comparatively better than payday loans, the profile of BNPL borrowers seems to suggest that these loans are adding…

Employees at one of America’s largest banks explore unionization — I’ve written a fair amount about one of America’s largest (and baddest) banks, Wells Fargo. Wells Fargo Sucks And still has tons of customersadvocateandy.medium.com Now, it seems that workers at some Wells Fargo branches are exploring the possibility of joining a union. Employees in Albuquerque, N.M., and Bethel, Alaska, said they would notify the National Labor Relations Board that…

Brigit App and a subscription you couldn’t cancel — App-based nonbank lender Brigit was recently hit with an $18 million fine by the Federal Trade Commission (FTC). The crux of the enforcement action was that Brigit’s subscription was incredibly difficult to cancel. …

You’ll only have to join the Cartoon Bear Club — Need groceries? Fuel tank a little low? Maybe you want something flavored with pumpkin spice? No worries! The friendly cartoon bear over at the Dave App has you covered. Just take an “easy” cash advance from their lending club and you’re on you way. Full of coffee, gas, and groceries. …

A pattern of discrimination — Citibank is again in the news for all the wrong reasons. This time, Citi was found guilty of discrimination in credit card denials. For a period of six years, Citi singled out consumers it suspected of being of Armenian descent for illegal discrimination, including denying them access to Citi’s credit…

Need a loan for your latte? — You know what no one ever orders with their coffee? Debt! But the brilliant marketers over at the Dave App are seriously hoping that you crave coffee so much you’re willing to go into debt to buy some. Today! With an Extra Cash advance. From Dave. The App with the…

Easy to sign up, impossible to exit — It all sounds great. The free trial. The easy access to a service you need. The chance to decide if you want it. And the promise of no obligation and easy cancellation. Then, the reality hits. You see a charge on your bank statement and realize you forgot to cancel…

It’s all tricks with a short-term loan from the Dave App — Need to have a Halloween party or get a costume but you’re short on cash? No worries! A cartoon bear with stacks of cash is heading to the rescue. The Dave App never seems to miss a chance to encourage users to take out an “extra cash” advance. You know…

A series of announcements offers hope — Your bank wants your money. Not just the money you have on deposit. Not just the money you pay them for a loan or credit card. Your bank wants ALL of your money. It turns out, some banks will go to any length to get your cash — even charging…

White-collar crime pays quite nicely — The most “successful” thieves wear a shirt and tie, the saying goes. Or, I think that’s a saying of some sort. Anyway, Jason Mikula at Fintech Business Weekly has a story of a bank facilitating some $300 million in fraud. The penalty? Just 10% — $30 million. The case involves…

And fines for Chime, oh my! — Those two bears helped someone pay their rent. Now, they’re looking for their money back — plus interest! A pound of flesh, that’s just an appetizer! In recent consumer finance news, the cartoon bear of the Dave App is looking to lend cash to help pay rent. Can a Cartoon Bear Help You Pay Rent? It’s possible — but there are some strings attachedadvocateandy.medium.com

The E-Z lending app comes with a fair share of risk — Getting an advance on your paycheck may seem like a good idea — a way to manage cash flow and avoid overdraft fees or late fees. Fintech lending app MoneyLion offers an “InstaCash” advance that purports to make borrowing from your next direct deposit easy and low cost. However, the…

Turns out, a loan from a cartoon bear has to be repaid with real cash — The above is, well, amusing. It’s from the Dave App suggesting that a short-term loan from the Dave App will keep you out of debt. But, of course, a loan from the Dave App becomes a debt. A debt that must be repaid. Can you stay out of debt by…

The credit bureau can’t seem to straighten up or fly right — Credit reporting agencies are not known for being nice. TransUnion, in particular, has been caught breaking the law and harming consumers multiple times in recent years. Back in 2022, the Director of the Consumer Financial Protection Bureau (CFPB) lamented TransUnion’s inability to comply with the law: “TransUnion is an out-of-control…

It’s possible — but there are some strings attached — The Dave App is everywhere. It’s the friendly cartoon bear with some extra cash to help you in a tight spot. The latest campaign focuses on helping you catch up if you can’t quite pay your rent. It all seems so easy. Just get a cash advance right from your…

And still has tons of customers — I continue to be amazed that Wells Fargo remains one of America’s largest banks. It seems the banking behemoth is always in the news for some sort of scandal. Here’s a sample of quotes about the bank pulled from recent stories on its nefarious activity: Wells Fargo Workers Fight Back | Advocate Andy | NewsBreak Original Senate Banking Chair highlights employee complaints against banking giant. The Chair of the Senate Banking Committee is…original.newsbreak.com

Learning a lesson the hard way — I write a lot about consumer protection — about the mainstream businesses that harm consumers through nefarious practices. However, there’s still the threat from the good, old-fashioned scam. A story from Orrin Onken about some Birkenstocks that never arrived offers some key lessons in how to avoid being scammed. I’m a Tech-savvy Know-it-all Lawyer and I Fell for the Online Birkenstock Scam Because I wanted it to be true.medium.com

The weather’s cooling off, but those triple-digit interest rates still burn — Just. Don’t. Do it. Maybe you feel like you need some extra cash just because the season changed to fall. Or, you’re in a car near a mountain and think: “High-interest cash would make this trip better.” Well, you’re wrong. You don’t need an extra cash advance from a cartoon…

But here we are — Medical debt is gross. It is clear evidence that in American capitalism, profit beats people every time. Insurance companies are the biggest winners in our healthcare system. But other profiteers are eager to get their hands on cash from people unlucky enough to fall ill or face a medical emergency. …

Crimes against consumers are low-risk, high reward — What happens when hundreds of thousands of consumers lose nearly $200 million in an illegal financing scheme? According to a cursory glance at consumer finance news, not much in the way of penalties for the wrongdoer. When a company that provides lease-purchase financing to customers of retailers like Sears and…