Business ProfileforExpress Processing

The following describes a government action that has been resolved by either a settlement or decision by a court or administrative agency.  If the matter is being appealed, it will be noted below.

On March 8, 2023, Think Point Financial, LLC, a limited partnership, also First American Payment Systems, LP, a limited partnership, also d/b/a Merimac Capital, Eliot Management Group, LLC, a limited liability company, also d/b/a Sundance Payment Solutions, and Think Point Financial, LLC, a limited liability company, also d/b/a Cypress Bay Solutions and Impulse Payments entered into a Second Amended Stipulated Order for Permanent Injunction, Monetary Judgment, and other relief with the Federal Trade Commission with the United States District Court Eastern District of Texas Sherman Division.

The Court found the Defendants participated in deceptive and unfair acts or practices in violation of the Federal Trade Commission Act and Section 4 of the Restore Online Shoppers’ Confidence Act.

It is ordered that the Defendants, Defendants’ officers, agents, employees and attorneys, and all other persons in active participation are permanently restrained and enjoined from misrepresenting or assisting the conditions for cancellation of goods or services provided, can be cancelled during an initial trial period with no penalty, can be cancelled prior to the end of a written agreement term with no penalty or can be cancelled at any time with no penalty. Cannot misrepresent the fees for the goods or services, such as monthly fees, the amount of savings using the good or service or any other fact material to Merchants concerning the good or service including the total costs, any material restrictions, limitations, or conditions of its performance, efficacy, nature or central characteristics.

Furthermore it is ordered making or assisting others making, representing the amount of savings realized from using their good or service, unless the representation is not misleading meaning at the time of such representation they must rely upon and posses reasonable basis for the representation.

Furthermore it is ordered that the business are prohibited against unfair debiting practices, prohibited against misrepresentations related to negative options-requiring disclosures relating to negative option features, obtaining express informed consent for a negative option, provide a simple mechanism to cancel negative option feature and maintain a compliance program by reporting submissions to the Commission and create records for 10 years after entry of the Order and retain records for 5 years.