1 of 1
Story summary
- The Federal Trade Commission ordered refunds to Cleo AI cash-advance users after deceptive marketing claims.
- Cleo AI agreed to pay $17 million to settle the FTC’s allegations.
- The FTC will distribute over $15.8 million to 2,124,796 eligible customers.
- FTC alleged Cleo advertised “hundreds of dollars” advances while most users received far less.
- Eligible users will receive email notices by Oct. 26 and PayPal payments starting Oct. 27, redeemable within 30 days.