News

May 14, 2019

Washington Post covers FTC Small Business Forum, notes Kate Fisher's Merchant Cash Advance panel presentation

On May 8, the FTC held a Small Business Forum at their offices in Washington, D.C. Partner Kate Fisher participated on the Merchant Cash Advance panel with brokers and providers of merchant cash advance ("MCA") products . The Washington Post summarized the forum, noting Kate's assertion that the FTC got it right when it limited the ban on confessions of judgment to consumers. The agency concluded that consumers needed protection because they often had few other options apart from signing one, and because they often defaulted on loans for reasons outside of their control, such as illness or job loss, Kate said. She added that those factors don't affect cash-advance borrowers because businesses can more easily shop for multiple offers, and because cash advances allow them to change their repayment schedule if they run into trouble.

Kate is a partner in the Hanover, MD office and co-chairs the firm's Business Funding Group. She represents banks, finance companies, private equity and investment bank investors, merchant cash advance companies, and small business lenders in establishing new programs and products, and conducting due diligence and compliance reviews of consumer lending and business financing portfolios. Kate has testified before the United States House of Representatives Small Business Subcommittee regarding improving small business capital access and recently appeared several times before the California legislature and New Jersey Senate Committee on Commerce regarding proposed disclosures for business finance transactions.

Click here to read The Washington Post article.

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