The US Federal Trade Commission announced on October 8, 2026, that it is sending more than $15.8 million to consumers impacted by cash advance app company Cleo AI.
Refund Distribution Details
The FTC plans to send payments to 2,124,796 Cleo AI customers who paid for eligible instant cash advances. Eligible consumers will receive an email between now and October 26, 2026.
The FTC will begin sending PayPal payments on October 27, 2026. Recipients should redeem their PayPal payment within 30 days.
Deceptive Claims Allegations
According to the FTC's March 2025 complaint, Cleo AI misled consumers with promises of fast money by advertising access to hundreds of dollars in cash advances. The agency stated that almost no one received even close to the advertised amounts.
The FTC also alleged that the company charged hidden fees for same-day or instant cash advances that often arrived the next day, and that the defendant made subscriptions difficult to cancel.
What to do
- Redeem your PayPal payment within 30 days.
- Contact the refund administrator, Rust Consulting Inc., at 877 788 4958 if you have questions about your payment, or visit the FTC website.
- Remember that the Commission never requires people to pay money or provide account information to receive a payment.
Key facts and where they come from
- The FTC is sending more than $15.8 million to consumers impacted by Cleo AI's claims.
The Federal Trade Commission is sending more than $15.8 million to consumers impacted by cash advance app company Cleo AI’s deceptive claims
- Payments will be distributed to 2,124,796 Cleo AI customers.
The FTC plans to send payments to 2,124,796 Cleo AI customers who paid for eligible instant cash advances.
- PayPal payments will start going out on October 27, 2026.
The FTC will begin sending PayPal payments on October 27, 2026.