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US FTC enters into $17 million settlement with AI payment company

( March 27, 2025, 14:01 GMT | Official Statement) -- MLex Summary: Cleo AI, a cash advance payment company, agreed to a $17 million settlement with the US Federal Trade Commission for allegedly misleading and deceiving customers about when it would pay out funds and how much money customers could receive in a short timeframe. The app also allegedly made it hard for customers to cancel subscriptions, and according to the settlement the company must change the terms of its cancellations.Official statement below:...

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