News & Analysis as of

Lenders Merchant Cash Advance (MCA)

Troutman Pepper Locke

Texas Enacts New Commercial Sales-Based Financing Bill Severely Restricting Automatic Debits

Troutman Pepper Locke on

On June 20, the Texas Legislature passed H.B. 700, which introduces several new regulatory requirements for providers and brokers of commercial sales-based financing operating within the state. The law applies to merchant...more

Troutman Pepper Locke

New York Attorney General Settles $1 Billion Lawsuit Against Yellowstone Capital Over High-Interest Loans

Troutman Pepper Locke on

On January 22, New York Attorney General Letitia James announced a significant settlement with Yellowstone Capital of New Jersey and its affiliated companies over allegations of illegal high-interest loans disguised as...more

Wilson Sonsini Goodrich & Rosati

Revenue Purchase or Predatory Loan? New York Attorney General Targets Merchant Cash Advance Providers

On March 5, 2024, the New York Attorney General (AG) Letitia James sued Yellowstone Capital LLC (Yellowstone) and various affiliates, accusing them of running a predatory lending operation by disguising the loans as purchases...more

Sheppard Mullin Richter & Hampton LLP

New York Attorney General Brings $1.4 Billion Lawsuit Against Merchant Cash Advance Lenders

On March 5, the New York Attorney General filed a lawsuit against a network of over 30 lending companies and their officers alleging their involvement in a predatory “merchant cash advance” lending scheme that exploited New...more

Orrick, Herrington & Sutcliffe LLP

New York State Attorney General wins $77 million judgment against short-term lenders for predatory lending

On February 8, New York State Attorney General (AG) Letitia James announced a more than $77 million judgment against three merchant cash advance (MCA) companies for usury and fraud based on allegations the lenders used...more

Faegre Drinker Biddle & Reath LLP

State AG Updates: Colorado, New Jersey, New York, Kansas, Florida, Rhode Island and AG Coalitions

In this edition of Faegre Drinker’s State Attorneys General Update, we discuss: • The Colorado AG’s $4 million settlement with two credit unions related to auto loan GAP fees...more

Sheppard Mullin Richter & Hampton LLP

California Legislature Passes Mini-CFPB Bill; If You Liked The Department Of Business Oversight, Get Ready For The Department Of...

On August 31, both houses of the California legislature passed and sent to Governor Newsom for signature the California Consumer Financial Protection Law (the CCFPL). Effective on January 1, 2021 if Governor Newsom signs the...more

Hudson Cook, LLP

New York Passes Small Business Finance Disclosure Law

Hudson Cook, LLP on

On July 23, 2020, the New York legislature passed A10118A/S5470B requiring disclosures in various commercial financing transactions, including loans, merchant cash advances ("MCA"), and factoring transactions (the "Disclosure...more

8 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide