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International Business Times UK

Technology

Stephanie Cruz

Cleo AI Refunds: 2.1 Million Customers to Receive a Share of the $15.8M Payout

Cleo Federal Trade Commission Artificial Intelligence PayPal United States

Cleo’s blunt, roast-style money app is at the centre of a US FTC refund for cash advance customers. (Credit: Meet Cleo Website)

The Federal Trade Commission has started returning more than $15.8 million (about £11.9 million) to around 2.1 million customers of Cleo AI, the cash advance app that regulators say overstated how much money users could get and how quickly it would reach them.

The agency said it will send 2,124,796 payments through PayPal, beginning on 27 October 2026.

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