Navigation 'Astronomical' Interest Rates: $1B Settlement to Resolve Allegations of 'Predatory' Lending Cancels $534M in Small-Business Debts
Through a $1 billion settlement announced by New York Attorney General Letitia James, Yellowstone Capital agreed to wipe out more than $534 million in debt of its small-business clients. It resolves the attorney general’s lawsuit alleging Yellowstone ran a large, predatory lending scheme. The settlement canceled debt of more than 1,100 small businesses in New York, and more than 18,000 nationwide.
