The FTC is sending a third round of refunds from its case against Yellowstone Capital, a merchant cash advance company it accused of pulling money from small business accounts after the advances had already been repaid. About 3,759 businesses that cashed an earlier check are getting an automatic share of more than $549,000, with 90 days to deposit it.
What Was Announced?
The Federal Trade Commission announced a third Yellowstone Capital refund round in June 2026. It includes 3,759 checks totaling more than $549,000 for small businesses that cashed a previous payment.The FTC says the first two rounds, sent in June 2022 and August 2024, resulted in more than $9.1 million in completed refunds. This new distribution is automatic for the selected prior recipients, and checks must be cashed within 90 days.
What Was the Yellowstone Capital Case About?
Yellowstone Capital offered merchant cash advances, a form of business financing generally repaid through withdrawals from business receipts or accounts. The FTC alleged that the company continued taking hundreds or thousands of dollars from some customers after the contracted amount had been fully repaid.The company and owners resolved the federal case through court orders. Those orders funded redress and restricted unauthorized withdrawals and misleading practices.
Why Is This the Third Distribution?
Refund programs can make later payments when money remains after an earlier round. Here, the FTC identified businesses that cashed a previous check and issued an additional share from the remaining fund.That design explains why the new 3,759-check count is smaller than the original group. It also means a business cannot join the third round through a newly filed form.
What a Recipient Business Should Do
Deposit the check within 90 days and retain the notice, check image and bank confirmation with the business’s accounting records. The official FTC page can be used to authenticate the distribution.A legitimate refund does not require an activation fee or a return transfer. Be especially cautious about messages that use the Yellowstone name but direct the business to a different payment account.
What If Your Business Was Overcharged?
The current distribution is limited to selected prior recipients. The FTC page does not open a new claim process for every business that used a Yellowstone-related merchant cash advance.A business can still preserve contracts, payment histories and bank statements for its own records. Suspected ongoing unauthorized withdrawals should be raised promptly with the financial institution and reported through appropriate official channels.
Frequently Asked Questions
Who receives the third Yellowstone Capital refund?
The FTC is sending checks to 3,759 small businesses that cashed an earlier Yellowstone Capital refund check.
How much is the June 2026 Yellowstone Capital distribution?
The third round totals more than $549,000. Individual check amounts are based on the FTC program’s existing records.
How much was paid in the first two rounds?
The FTC says the June 2022 and August 2024 rounds resulted in more than $9.1 million in completed refunds.
Can a business file a new Yellowstone Capital refund claim?
No. The third distribution uses prior payment records and the FTC has not opened a new public claim form for it.
How quickly must the check be deposited?
The FTC instructs recipients to cash or deposit the Yellowstone Capital check within 90 days.
Sources
• FTC — Yellowstone Capital refund program• FTC — earlier Yellowstone Capital refund distribution
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