Look out, the stranger on the phone warned. They’re coming for you.
Update: Federal, state and local authorities are cracking down on the merchant cash advance industry in response to this story and the rest of the series I wrote with Zachary Mider. The U.S. Senate and House proposed bills, several New York State lawmakers called for a ban and the New York Attorney General started an investigation. New York’s mayor also called for a review of the marshal program. Some clerks stopped processing confessions of judgment.
Awards: Winner of the Taylor Family Award for Fairness in Journalism from the Nieman Foundation. Finalist for National Magazine Award for reporting. Winner of Gerald Loeb Award. Winner of American Bar Association’s Silver Gavel award. Finalist for Scripps Howard award for business reporting. Winner of a SABEW Best in Business award. Merit award for investigative reporting from the Society of the Silurians. Second place in National Headliner Awards. Winner of New York State Society of CPAs award for excellence in financial journalism. Winner of a National Press Club award.