WA, FTC reach $600K settlement with payment processing company for deceptive practices

WA, FTC reach $600K settlement with payment processing company for deceptive practices FOR IMMEDIATE RELEASE: Nov 2 2026 atgSamBlobaum Mon, 11/02/2026 - 11:59 Washington small business owners will receive financial relief through a $600,000 settlement with the payment processor Riverside Payments, Inc., its affiliate, and the companies’ owners, resolving allegations the firms deceived customers with false promises of cost savings and extreme hurdles to canceling when they wanted out. Small businesses will be able to cancel their processing contracts without a termination penalty under the proposed order settling the allegations from the Federal Trade Commission (FTC) and the state of Washington. They will also be eligible for compensation based on each business’s processing volume over the past six months. More than 300 small businesses in Washington will be eligible. Riverside, based in Vancouver, Wash., sells credit card payment processing services to merchants across the country. In their complaint, the FTC and Washington allege Riverside, its affiliate Cascade Equipment Leasing, and their owners falsely promised small businesses that they would save money on payment processing

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