National Merchants Association (NMA) lawsuit against Commercial Bank of California continues with depositions, confidence building and promising results

“I am fighting for our reputation and for all the other people who have been affected by this circumstance.” – Heather Altepeter, CEO, Owner and Founder

Today, National Traders Association (“NMA” or “Plaintiff”), an innovative FinTech company, business advocate and payments acquirer transforming the financial services industry, has released an update on its pending lawsuit against Commercial Bank of California, a chartered bank (“Defendant”), in the California Superior Court, Los Angeles County, California, Case Number 21STCV44674 and JAMS File Number 1210038694.

In December 2021, the NMA filed a seven-count complaint against the Commercial Bank of California for various alleged violations, including but not limited to breach of written agreement, breach of good faith covenant, and fair use, unjust enrichment and unfair trade practices, among others.

As it stands, the NMA is suing for $280 million and is in the process of filing depositions with multiple individuals and entities involved in the case. The case is heading to trial which is expected to take place in February 2023.

“I am fighting for our reputation and for all the other people who have been affected by this circumstance. I feel like it was a David and Goliath situation,” said Heather Altepeter, CEO, owner and founder of the National Merchants Association. “I will not stop and I will continue to tell the truth. What I learned during this process is the importance of verifying and trusting your partners. »

The alleged unethical and unfair business practices carried out by Commercial Bank of California management, including its longtime and current CEO, Ash Patel, include the following, among others:

  • Take NMA’s Proprietary Processes and Information
  • Freeze assets for months at a time, preventing suppliers and partners from receiving payment
  • Misinformation about traders’ risk reserves

“We are cooperating with every request and will continue to fight for what is right,” said Travis Everett, COO of the National Merchants Association. “Heather has been an incredible leader through all of this and she’s an opponent I wouldn’t want to face, especially when she’s standing up for the truth.”

The National Merchants Association will post important updates as the court process progresses. For questions or comments, email [email protected] For more information on the National Association of Merchants, visit NationalMerchants.com.

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About the National Merchants Association (NMA)

National Traders Association (NMA) is a powerhouse in the payment processing industry and a merchant advocacy group that stands up for every merchant, regardless of their risk level, to ensure fair and affordable electronic payment options for merchant businesses. all sizes. As the leading cardless service provider and trusted partner of brick-and-mortar businesses around the world for nearly 20 years, NMA has revolutionized the payment processing space by creating a reliable and easy-to-use payment experience for merchants, agents, referral partners and consumers. NMA has enjoyed remarkable success since its inception, earning a spot on the Inc. 5000 list of fastest growing companies for three consecutive years and landing partnerships that provide exclusive access to innovative FinTech and payment solutions. For more information about NMA, visit NationalMerchants.com.

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