News & Analysis as of

Small Business Merchant Cash Advance (MCA) State Attorneys General

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 Secures $77M Judgment With Merchant Cash Advance Companies

Troutman Pepper Locke on

On February 8, New York attorney general (AG) Letisha James announced a $77 million judgment with three merchant cash advance (MCA) companies, Richmond Capital Group, Ram Capital Funding, and Viceroy Capital Funding, and...more

Cozen O'Connor

AG Platkin Settles with Yellowstone Capital for $27.4 Million over Allegedly Predatory Small Business Loans

Cozen O'Connor on

New Jersey AG Matthew J. Platkin announced a $27.4 million settlement with Yellowstone Capital LLC and related entities (collectively, “Yellowstone”) to resolve allegations that Yellowstone’s offers, sales, servicing, and...more

Ballard Spahr LLP

New Jersey Attorney General sues merchant cash advance providers

Ballard Spahr LLP on

The New Jersey Attorney General recently filed a lawsuit in New Jersey state court against Yellowstone Capital LLC, its parent Fundry.US LLC, and various Yellowstone subsidiaries and affiliates alleging that the defendants...more

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