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FTC and Eight States Sue Payments Fintech Toast

Original: Why the FTC and 8 states are suing payments fintech Toast They are alleging that the restaurant software and payments fi

The FTC and eight states have filed a lawsuit against Toast, the restaurant software and payments company. Regulators allege the firm failed to deliver promised customer support, made it difficult for restaurants to cancel services, and charged hidden and unauthorized fees. The case adds to growing regulatory scrutiny of fintech companies' billing and cancellation practices, and raises questions for the many restaurants that rely on Toast's point-of-sale systems.

Why now: A federal regulator and multiple states taking action against a widely used restaurant payments provider has direct implications for businesses and the fintech sector.

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Evidence

• Why the FTC and 8 states are suing payments fintech Toast They are alleging that the restaurant software and payments fintech failed to deliver on its customer support promises, made it difficult to cancel its services and hit restaurants with hidden and unauthorized fees and… · AlexJimenez@mas.to

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