Failing the Duck Test: Merchant Cash Advances are Loans

Bankruptcy – Adversary Proceedings – 9th Circuit. Background In the aftermath of the 2008 economic recession, lawmakers sought to put an end to the overtly risky, subpar lending practices used to exploit consumers and mislead investors. To battle this, Congress passed the Dodd-Frank Act (DFA) in 2010. The DFA was designed to prevent excessive risk-taking […]