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Violation Tracker Individual Record

Company: RCG Advances, LLC
Penalty: $2,700,000
Year: 2022
Date: June 6, 2022
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: The Federal Trade Commission's lawsuit against RCG Advances, LLC led to acourt orderthat permanently bans the company from the merchant cash advance industry for deceiving and threatening small businesses and their owners. The FTC alleged that the scheme's operators lied to small business owners about terms and fees for their financing, and threatened them with violence when they were unable to pay. In addition, the court ordered RCG Advances and Giardina to make an upfront payment of $1.5 million and subsequent payment of more than $1.2 million to refund consumers.
Level of Government: federal
Action Type: agency action
Agency: Federal Trade Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.