News & Analysis as of

Merchant Cash Advance (MCA) Settlement

Orrick, Herrington & Sutcliffe LLP

New York Attorney General secures $1B settlement with merchant cash advance lenders

On January 16, the New York State Attorney General (AG) filed a consent order in the Supreme Court of the State of New York involving lending companies and its officers (the respondents) accused of predatory lending of...more

Latham & Watkins LLP

NY Attorney General Secures $1 Billion-Plus Judgment for Illegal Loans Misrepresented as Merchant Cash Advances

Latham & Watkins LLP on

On January 22, 2025, New York Attorney General (NYAG) Letitia James announced a judgment and settlement against cash advance provider Yellowstone Capital, its officers, and two dozen affiliates (Yellowstone) for more than $1...more

Hudson Cook, LLP

Yellowstone Capital Settles Lawsuit with New York Attorney General

Hudson Cook, LLP on

On January 16, 2025, Yellowstone Capital and other entities, along with Yellowstone officers Isaac Stern and Jeffrey Reece, settled claims by New York Attorney General Letitia James that Yellowstone and the other entities...more

Troutman Pepper Locke

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

Troutman Pepper Locke 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

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