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Fact #38 The lawTactics

97%of roughly 3,000 arbitrations ran with no small business present, NY AG alleges

New York's Attorney General alleges that in roughly 3,000 arbitrations on one online platform, 97% proceeded without the small business appearing, and lenders won nearly all of them.

The June 2026 lawsuit alleges the platform was marketed as neutral while its rules were drafted in secret coordination with the merchant cash advance companies whose disputes it decided. The allegations are unproven.

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Source: Office of the New York State Attorney General. Read more: merchant cash advance fraud · case file

Sources

  1. Attorney General James Sues Sham Arbitration Service Created to Help Predatory Lenders. Office of the New York State Attorney General. Accessed 2026-09-25. Supports: All facts in this case file: the Rapid Ruling defendants, the June 8, 2026 filing date, the 2019 founding date, the secret coordination allegation, the buried arbitration clause allegation, the 97% no-appearance statistic, the near-uniform lender win rate, the references to the Attorney General's prior Yellowstone and Richmond Capital enforcement actions, and the Attorney General James quote.