CFPB v. Hello Digit, LLC

Hello Digit, LLC allegedly engaged in deceptive acts or practices because Hello Digit’s automated-savings tool routinely caused consumers’ checking accounts to overdraft, and Hello Digit did not always reimburse consumers for overdraft fees caused by the auto-save tool. According to CFPB, Hello Digit deceived consumers when it represented that it would not keep any interest earned on consumer funds that it was holding, when in fact Hello Digit kept a significant amount of the interest earned.

Summary generated from official Consumer Financial Protection Bureau press release