New York Attorney General Letitia James said on Wednesday her office obtained a $1.065 billion judgment against Yellowstone Capital, a cash advance provider accused of predatory lending, as part of a settlement that gives small businesses more than a half-billion dollars of debt relief.
James sued Yellowstone, now known as Delta Bridge Funding or Cloudfund, last March, saying its network of companies falsely told merchants it would buy specified percentages of future revenue, known as receivables, and that they could obtain refunds on loan payments if business slowed.
The attorney general said Yellowstone instead debited