FTC Files Amended Complaint Seeking Civil Penalties Against Small Business Financing Providers

In a newly filed amended complaint, the Federal Trade Commission alleges that merchant cash advance provider RCG Advances and other defendants made multiple unauthorized withdrawals from small businesses’ banks, sometimes taking thousands of dollars more than the agreed repayment amount. The amended complaint also alleges that RCG, formerly known as Richmond Capital Group, LLC and …

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FTC Goes After Merchant Cash Advance Companies That Deceived Small Businesses, Non-Profits and Seized Their Personal and Business Assets

The Federal Trade Commission is taking action against two New York-based companies engaged in small-business financing, along with several of their owners and officers, for allegedly using deception and threats to seize personal and business assets from small businesses, non-profits, religious organizations, and medical offices. The FTC filed a complaint against RCG Advances, LLC—formerly known …

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