FTC and Washington settle with payment processor Riverside over misleading small business contracts
POLICYFederal Trade Commissionredteam/daily · 1 source
- Severity
- Low
- Sources
- 1
What happened
The FTC and State of Washington filed a complaint and stipulated final order in the U.S. District Court for the Western District of Washington against Riverside Payments Inc., Cascade Equipment Leasing LLC and principals Brandon Skinner and Jason Reese. The alleged violations include deceptive savings claims, undisclosed fees and auto-renewing contracts, and obtaining financial information through false statements under the FTC Act and the Gramm-Leach-Bliley Act. The judgment is $32,083,921, suspended after a $600,000 payment. No CVEs are involved; the article gives no technical indicators.
For security analysts · Written by AI from 1 source · Wrong?
What to do
- Small businesses with Riverside or Cascade agreements may rescind them without a termination penalty under the proposed order.
- Businesses should review processing contracts for automatic renewal terms and early termination fees before signing.
Written by AI from the sources, checked against them
Full story timeline · 1 update
Who reported · 1 outlet
FTC Consumer Protection
Who and what is in it
Companies