On November 5, 2024, the Federal Trade Commission (FTC) filed a lawsuit against Dave, Inc., a U.S. fintech company known for providing short-term cash advances through its mobile banking application. This action is part of a broader effort by the FTC to regulate online cash advance providers. In a related development, the D.C. Attorney General, Brian L. Schwalb, has also initiated a lawsuit against EarnIn, another app-based payday lender, alleging deceptive marketing practices and the provision of illegal high-interest loans. The lawsuits highlight ongoing scrutiny of fintech companies and their lending practices, particularly concerning consumer protection and antitrust regulations. Additionally, Dave, Inc. has recently hired a new Chief Marketing Officer as part of its strategy to attract more customers amid the legal challenges it faces. The company's stock, trading under the ticker symbol $DAVE, has seen a significant increase of 1,228% over the past year, although it has declined by 74% since its SPAC IPO in March.