FTC sends second payment to businesses overcharged for merchant cash advances
The FTC is sending a second round of payments to small businesses who were harmed by Yellowstone Capital, a merchant cash advance company that withdrew money from customer bank accounts without permission.
The FTC sued Yellowstone Capital and its owners in 2020, and they agreed to settle. The FTC's lawsuit alleged that Yellowstone unlawfully withdrew hundreds or thousands of dollars from businesses after they had repaid the full amounts owed in their contracts.
The FTC first sent payments in June 2022, which resulted in more than $6.4 million in refunds. Because there is still money in the fund, the FTC is sending a second round of payments totaling over $3.3 million to 4,981 small businesses who accepted their first payment.
If you get a check, please cash it within 90 days.
You can find answers to common questions about refund payments on our FAQ page. If you have any other questions, please call the refund administrator at 1-855-604-1861.