Riverside Processing Customers Can Exit Without Penalty

Small businesses with Riverside Payments contracts may terminate agreements penalty-free under a proposed settlement with the FTC and Washington.

Updated on Nov. 3, 2026 in Openings & Closings

Riverside Processing Customers Can Exit Without Penalty

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Do you trust payment processors' promised savings and cancellation terms for small businesses?

Riverside Payments, its affiliate Cascade Equipment Leasing LLC, and their operators agreed to pay $600,000 to settle Federal Trade Commission allegations of deceiving small businesses in a joint action with Washington state. The proposed settlement lets affected small businesses terminate payment-processing agreements without an early termination penalty.

Why it matters

The complaint centers on claims that small businesses were promised savings of 40% to 60% by switching processors but often ended up paying more, with fees allegedly left out of sales quotes. For operators, it is a reminder that payment-processing contracts should be read in full and compared on total cost, not on advertised savings.

The settlement totals $600,000 against a suspended $32.1 million judgment against Riverside, Cascade, and owners Brandon Skinner and Jason Reese. The complaint contrasts advertised agent earnings of $75,000 to $95,000 a year with an alleged average of $3,787 a year.

The players

Federal Trade Commission

The federal agency that enforces consumer protection law against deceptive business practices, including in payment-processing sales.

Riverside Payments

A payment-processing company that allegedly marketed processor switches to small businesses with savings claims the complaint disputes.

Cascade Equipment Leasing LLC

An affiliate of Riverside Payments named as a defendant in the complaint and settlement.

The details

According to the complaint, Riverside allegedly failed to disclose activation fees, batch fees, and data security compliance charges in sales quotes. It also allegedly buried automatic renewal terms and a $695 early termination fee inside a 26-page electronic agreement, and advertised a no-risk cancellation guarantee that was not honored. The proposed order gives affected businesses a 60-day window to terminate without penalty.

Announced Monday, November 3, 2026, when the FTC announced the settlement and the complaint was filed.
Affected customers have a 60-day window to terminate agreements without early termination penalties once the order takes effect.

Market Landscape

The case applies the Federal Trade Commission's authority under the FTC Act against deceptive practices to the small-business payment-processing sector. It sits alongside joint federal and state enforcement, with Washington state acting as co-plaintiff.

Small businesses weighing a payment-processor switch should compare total costs, including activation, batch, and compliance fees, before signing. Contract renewal terms and early termination fees should be reviewed in the full agreement, and questions about these terms are best directed to qualified counsel or an accountant.

The takeaway

Operators should treat advertised processing savings as a claim to verify against the full fee schedule and agreement terms. Any business with a Riverside or Cascade contract should check the 60-day termination window and consult qualified counsel before acting.