News & Analysis as of

Merchant Cash Advance (MCA) Financial Institutions

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

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

Husch Blackwell LLP

Commercial Financing Disclosure and Broker Registration Bill Introduced in Missouri

Husch Blackwell LLP on

On January 5, 2023, a bill was introduced in the Missouri legislature that would require non-depository financial institutions to provide disclosures at or before consummation of certain commercial financing products....more

Morrison & Foerster LLP

Square Peg, Round Hole: MCA Disclosures Under the California Commercial Financing Disclosure Regulations

In the third in our series on the California Commercial Financing Disclosure Regulations, we focus on the disclosure requirements for merchant cash advances (MCAs)....more

Ballard Spahr LLP

Utah and Virginia enact registration and disclosure requirements for providers of merchant cash advances

Ballard Spahr LLP on

Utah and Virginia recently became the first two states to require the registration of providers of merchant cash advances.  The new laws also include disclosure requirements.  (Although laws requiring disclosures for merchant...more

Manatt, Phelps & Phillips, LLP

Utah Enacts Commercial Finance Disclosure and Registration Law

Merchant Cash Advance providers, commercial litigation funders, online SMB lending platforms and other nonbank small-business lenders, take note: Following the lead of California and New York, Utah is now the third state to...more

Hudson Cook, LLP

Gov. Cuomo Signs New York Small Business Finance Disclosure Law

Hudson Cook, LLP on

On December 23, 2020, New. York Governor Cuomo signed into law A10118A/S5470B requiring disclosures in various commercial financing transactions, including loans, merchant cash advances ("MCA"), and factoring transactions...more

Troutman Pepper

New York State Legislature Adopts Substantial Disclosure Requirements in Certain Commercial Finance Transactions, Including for...

Troutman Pepper on

On Thursday, July 23, 2020, the New York State Legislature voted to approve companion bills (S 5470/A 10118-A), commonly referred to as the “New York State Small Business Truth in Lending Act” (NY TILA). In passing the NY...more

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