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Federal Trade Commission (FTC) Financial Services Industry Merchant Cash Advance (MCA)

Troutman Pepper

New York AG Sues Yellowstone Capital Over Alleged “Fraudulent Loans” Targeting Small Businesses

Troutman Pepper on

New York Attorney General (AG) Letitia James filed a lawsuit on March 5 against Yellowstone Capital, its founder David Glass, and a network of 30 other affiliated companies and individuals. James alleges that Yellowstone...more

Sheppard Mullin Richter & Hampton LLP

FTC Settles with Fintech for $18M over Deceptive Cash Transfers and Difficult-to-Cancel Memberships

On November 2, the FTC entered into a settlement agreement with a Manhattan-based fintech company for $18 million over alleged deceptively marketed cash advances to consumers and impeding customers’ ability to cancel...more

Ballard Spahr LLP

FTC targets deceptive practices in merchant cash advance case

Ballard Spahr LLP on

The Federal Trade Commission recently prevailed on summary judgment in a case against Jonathan Braun and his company RCG Advances, LLC. The product at issue, merchant cash advances, generally provide small businesses with...more

Manatt, Phelps & Phillips, LLP

FTC Commissioner Targets Merchant Cash Advance Industry

What happened - On August 3, 2020, the Federal Trade Commission (FTC) filed a complaint against a merchant cash advance (MCA) provider and two of its officers, alleging misconduct ranging from grossly misrepresenting the...more

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