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Oportun Financial Corporation

開発者と提供者の両方の立場で関わったインシデント

インシデント 12221 Report
CFPB Reportedly Finds Hello Digit's Automated Savings Algorithm Caused Overdrafts and Orders Redress with $2.7M Penalty

2022-08-10

Hello Digit's automated savings product allegedly transferred funds from users' checking accounts via a proprietary algorithm that reportedly caused overdrafts and bank fees despite a "no overdraft" guarantee. The Consumer Financial Protection Bureau (CFPB) reportedly also found the company denied many reimbursement requests and kept interest earned on customer funds. Hello Digit was ordered to provide redress and pay a $2.7M civil penalty.

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Hello Digit

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Hello Digit customers

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Bank account holders enrolled in auto-saves

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Consumers charged overdraft fees due to auto-saves

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Consumers denied overdraft reimbursement

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Consumers whose accrued interest was retained

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Hello Digit automated savings algorithm

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Hello Digit auto-save transfer scheduling/decision engine

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Hello Digit proprietary checking-account analysis model

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