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  1. #1
    Senior Member Reputation points: 81655
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    Lightbulb New Jersey Attorney General Settles Lawsuit against Yellowstone Capital LLC,

    https://www.jdsupra.com/legalnews/ne...ttles-9755027/


    Will there be more settlements involving other MCA funders - Time shall tell.
    Dave Lambert, Business Development
    dave@fcbankcard.com
    Merchant Services Consultant
    High Risk Merchant Payment Solutions
    SBA 7(a) Loans & Short-Term Funding
    T/VM: 727-291-7890
    Office: 727-233-1111
    Skype: fc-financial

  2. #2
    Senior Member Reputation points: 97075
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    Quote Originally Posted by Yankeeman07 View Post
    https://www.jdsupra.com/legalnews/ne...ttles-9755027/


    Will there be more settlements involving other MCA funders - Time shall tell.
    So YS charged people over debits, got caught, and in the end is giving $5M to the state and moving on?

    Are any Merchants getting refunds or is the state keeping the money?

  3. #3
    Senior Member Reputation points: 337045
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    Quote Originally Posted by SmartAdvanced View Post
    So YS charged people over debits, got caught, and in the end is giving $5M to the state and moving on?

    Are any Merchants getting refunds or is the state keeping the money?
    I believe the suit declares all outstanding MCAs must be forgiven unless I read the judgement wrong.
    Hedley Lamarr......That's Hedley

  4. #4
    Member Reputation points: 1158
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    This is where their political donations come into play. You can easily operate as an MCA direct lender here in NJ as long as you aren't using the model that a couple of companies were using a few years ago here and in Philly.
    ---------------------------------------------------------

    Rich McKellar



    www.linkedin.com/in/richardmckellar

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