Snap! Raise Lawsuit: A Complete Guide for USA Audience

Snap! Raise is a popular fundraising platform that helps schools and other organizations raise money. However, the company has been facing a lawsuit from the Consumer Financial Protection Bureau (CFPB) since 2022. The CFPB alleges that Snap! Raise has engaged in deceptive and unfair practices, including:

  • Misleading consumers about the terms of their fundraising campaigns. Snap! Raise allegedly tells consumers that they can keep 100% of the funds they raise, but this is not always the case. The company charges a 20% fee on all donations, and it also passes on credit card processing fees to donors.
  • Obscuring the terms of its service agreements. Snap! Raise allegedly makes it difficult for consumers to understand the terms of its service agreements, which can lead to unexpected fees and charges.
  • Making false threats to consumers. Snap! Raise allegedly threatens consumers with legal action if they do not pay their fees, even when the consumers are not legally obligated to do so.

The CFPB is seeking to force Snap! Raise to repay consumers for any losses they have incurred as a result of the company’s alleged deceptive and unfair practices. The CFPB is also seeking to stop Snap! Raise from engaging in these practices in the future.

FAQs:

Q: What is the Snap! Raise lawsuit?

A: The Snap! Raise lawsuit is a class-action lawsuit filed by the Consumer Financial Protection Bureau (CFPB) against Snap! Raise, a popular fundraising platform. The CFPB alleges that Snap! Raise has engaged in deceptive and unfair practices, such as misleading consumers about the terms of their fundraising campaigns, obscuring the terms of its service agreements, and making false threats to consumers.

Q: Who is eligible to participate in the Snap! Raise lawsuit?

A: Anyone who has used Snap! Raise to raise money for a school or other organization is eligible to participate in the lawsuit. This includes students, parents, teachers, coaches, and other volunteers.

Q: How do I join the Snap! Raise lawsuit?

A: To join the Snap! Raise lawsuit, you must file a claim form. The claim form can be found on the CFPB website.

Q: What damages can I recover in the Snap! Raise lawsuit?

A: If you are successful in the Snap! Raise lawsuit, you may be able to recover any losses you have incurred as a result of the company’s alleged deceptive and unfair practices. This may include fees that you paid to Snap! Raise, credit card processing fees that you paid to donors, and other damages.

Q: What is the deadline to join the Snap! Raise lawsuit?

A: The deadline to join the Snap! Raise lawsuit is not yet known. However, the CFPB is expected to provide more information about the lawsuit in the coming months.

Q: What are my chances of winning the Snap! Raise lawsuit?

A: It is impossible to say for sure what your chances of winning the Snap! Raise lawsuit are. However, the CFPB has a strong track record of winning cases against financial companies.

Conclusion:

The Snap! Raise lawsuit is a significant development for consumers who have used the fundraising platform. If the CFPB is successful in the lawsuit, it could force Snap! Raise to change its practices and repay consumers for any losses they have incurred. Consumers who have used Snap! Raise should stay informed about the lawsuit and file a claim form if they are eligible to participate.

References:

  • CFPB Sues Snap Finance for Illegally Luring Americans into Expensive Financing and Bullying Borrowers Using False Threats: https://www.consumerfinance.gov/about-us/newsroom/cfpb-sues-snap-finance-for-illegally-luring-americans-into-expensive-financing-and-bullying-borrowers-using-false-threats/
  • Snap! Raise Pricing: https://snapraise.com/welcome/pricing/
  • Snap! Raise Privacy Policy: https://snapraise.com/disclosures/raise-privacy-policy/

 

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