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Dave

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2024

    Civil enforcement action over alleged advertising and fee disclosures

    The U.S. Department of Justice and Federal Trade Commission announced a civil enforcement action against Dave and its board. The government alleged that Dave’s advertising and fee disclosures were deceptive and violated the FTC Act and the Restore Online Shoppers’ Confidence Act. The allegations were claims in litigation, and the government sought unspecified damages.

    Source

  2. 2020

    Dave Discloses Customer Data Breach

    Issue disclosure

    Dave disclosed that personal data belonging to all 7.5 million of its users had been compromised in a security lapse at third-party service provider Waydev. According to Dave, certain financial information was not affected. The company stated that it had initiated an investigation, was notifying customers, and was requiring password resets.

    Company response

    • Investigation — Dave

      The company also said that as soon as it became aware of this incident, it initiated an investigation, which is ongoing.

    • Ongoing disclosure — Dave

      Dave is notifying all customers about the incident

    • Remediation — Dave

      is performing a mandatory reset of all Dave customer passwords.

    Source excerpt

    • The stolen information included names, passwords, email addresses, birth dates, physical addresses and phone numbers.
    • The challenger bank Dave revealed in a blog over the weekend that personal data for all 7.5 million of its users has been compromised.
    • The security lapse happened at Waydev, a third-party service provider Dave used, the Los Angeles company said.
    Source