SAN FRANCISCO (KGO) -- The Federal Trade Commission this week shut down a San Francisco fintech company that offered 4 percent interest on savings accounts. The feds accused Beam of failing to live up ...
The FTC says it has permanently shut down mobile savings app Beam under a settlement that must be approved by a federal judge. Beam promised to pay interest as high as 7% on FDIC insured deposits with ...
Beam Financial, Inc. (Beam), a mobile banking app, will be banned from offering any service that may be used to deposit, store, or withdraw funds, and must give a full refund to users as part of a ...
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