Riverside Payments falsely promised to save small businesses money on payment-processing services but failed to disclose fees and auto-renewing contracts, complaint alleges
Payment processor Riverside Payments Inc., its affiliate Cascade Equipment Leasing LLC and their operators will pay $600,000 to resolve Federal Trade Commission and Washington state allegations that the firms deceived small businesses by falsely promising to save them money on payment processing services and making it nearly impossible to cancel despite offering “risk-free” cancellation.View Press Release
Riverside Payments Inc. and its affiliate Cascade Equipment Leasing LLC will pay $600,000 to settle FTC and Washington state claims that they misled small businesses about cost savings and cancellation terms in payment‑processing services.
The article presents the settlement as a response to allegations of deceptive practices, emphasizing the failure to disclose fees, auto‑renewal terms, and the difficulty of canceling contracts, while highlighting the regulatory action.
To inform stakeholders of the settlement and regulatory enforcement, potentially to mitigate reputational damage for the companies and to signal compliance with consumer protection standards.
- Specific details of the settlement terms beyond the payment amount
- Exact dates and locations of the settlement
- Names or number of affected small businesses
- Detailed description of the alleged deceptive practices
- Statements or responses from Riverside Payments Inc. or Cascade Equipment Leasing LLC