Customers of mobile savings app Beam, some of whom complained that they had been unable to access their deposits for months, say they are finally getting their money back.
"We have more to share, but it will come through a public statement at the appropriate time," the spokesperson said. "Meanwhile, we are 100% focused on making Beam customers right." "We think it's important to go to court to make sure that someone is holding Beam accountable," Malini Mithal, associate director of the FTC's Division of Financial Practices, said in an interview. "In addition to consumers getting their money back, we are seeking an order against Beam that would prohibit it from ever engaging in this type of misconduct again."In addition to the FTC case, Beam faces a proposed class action suit by a Florida depositor, Frederick Chang.
, which had custody of Beam's deposits — also asked the court to order Beam to cooperate in getting the funds back to depositors.
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