Texas Judge Administratively Closes FTC’s Case Against FloatMe App

U.S. District Judge Xavier Rodriguez for Western Texas in San Antonio directed his clerk to administratively close the FTC’s case against the personal finance mobile app, FloatMe, and its co-founders Joshua Sanchez and Ryan Cleary, said his signed order Friday (docket 5:24-cv-00001). Though administratively closed, the case “will still exist on the docket,” and may be reopened on request or on the court’s own motion, said the order. The parties may continue to file motions and documents in the case, it said. FloatMe, Sanchez and Cleary agreed Jan. 22 to pay the FTC $3 million to settle allegations that they promise, but then fail to deliver, short-term cash advances if consumers enroll in a $1.99 monthly membership plan (see 2401240055).