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Form 10-K ABCO Energy, Inc. For: Dec 31

Form 10-K ABCO Energy, Inc. For: Dec 31
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Yellowstone Capital to pay almost $10M in fraud settlement

Apr 23, 2021
Small-fleet owners have been among victims of merchant cash advances that sometimes deceive customers and leave them trapped in increasing debt.Yellowstone Capital, a leading provider of a type of small-business funding that has caused problems for small motor carriers, will pay more than $9.8 million to settle Federal Trade Commission fraud charges, announced the FTC. Much of that sum could be issued in refunds to affected businesses.
The agency said Yellowstone “took money from businesses’ bank accounts without permission and deceived them about the amount of financing business owners would receive and other features of its financing products.”
Yellowstone, now operated as Fundry Inc., was a pioneer in the controversial financing niche of merchant cash advances. An MCA provider gives a client, usually a small business with a poor credit rating, a cash advance in exchange for a much larger amount repaid through daily automatic payments. ....

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Yellowstone Capital to pay almost $10M in fraud settlement

Yellowstone Capital to pay almost $10M in fraud settlement
overdriveonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from overdriveonline.com Daily Mail and Mail on Sunday newspapers.

New York , United States , Bloomberg Businessweek , Jeffrey Reece , Jay Mayfield , David Glass , Mason Capital , Coast Business Capital , Thryve Capital Funding , High Speed Capital , Small Business In Transportation Coalition , Richmond Capital Group , Us District Court , Us Supreme Court , World Global Capital , Green Capital Funding , Fundry Inc , Yellowstone Capital , Trade Commission , James Lamb , Small Business , Transportation Coalition , Cash Flow Crisis , Richmond Capital , Wall Street , Boiler Room ,

Small-business lender Yellowstone to pay almost $10M in fraud settlement

Apr 23, 2021
Small-fleet owners have been among victims of merchant cash advances that sometimes deceive customers and leave them trapped in increasing debt.Yellowstone Capital, a leading provider of a type of small-business funding that has caused problems for small motor carriers, will pay more than $9.8 million to settle Federal Trade Commission fraud charges, announced the FTC. Much of that sum could be issued in refunds to affected businesses.
The agency said Yellowstone “took money from businesses’ bank accounts without permission and deceived them about the amount of financing business owners would receive and other features of its financing products.”
Yellowstone, now operated as Fundry Inc., was a pioneer in the controversial financing niche of merchant cash advances. An MCA provider gives a client, usually a small business with a poor credit rating, a cash advance in exchange for a much larger amount repaid through daily automatic payments. ....

New York , United States , Bloomberg Businessweek , Jeffrey Reece , Jay Mayfield , David Glass , Mason Capital , Coast Business Capital , Thryve Capital Funding , High Speed Capital , Small Business In Transportation Coalition , Us District Court , Richmond Capital Group , Us Supreme Court , World Global Capital , Green Capital Funding , Fundry Inc , Yellowstone Capital , Trade Commission , James Lamb , Small Business , Transportation Coalition , Cash Flow Crisis , Richmond Capital , Wall Street , Boiler Room ,

Small-business lender Yellowstone to pay almost $10M in fraud settlement

Small-business lender Yellowstone to pay almost $10M in fraud settlement
overdriveonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from overdriveonline.com Daily Mail and Mail on Sunday newspapers.

New York , United States , Bloomberg Businessweek , Jeffrey Reece , Jay Mayfield , David Glass , Mason Capital , Coast Business Capital , Thryve Capital Funding , High Speed Capital , Small Business In Transportation Coalition , Us District Court , Richmond Capital Group , Us Supreme Court , World Global Capital , Green Capital Funding , Fundry Inc , Yellowstone Capital , Trade Commission , James Lamb , Small Business , Transportation Coalition , Cash Flow Crisis , Richmond Capital , Wall Street , Boiler Room ,