California’s tough new financial watchdog has issued subpoenas to Encore Capital Group, Midland Funding, and other top debt collectors in its first significant investigation since taking power Jan. 1.
The California Department of Financial Protection and Innovation wants a dozen firms to hand over documents illuminating how they collect debts and communicate with consumers, Commissioner Manuel P. Alvarez said Tuesday.
“We take our expanded responsibility very seriously and are moving swiftly to ensure debt collectors do not violate the rights of California consumers,” Alvarez said in a statement.
The agency issued subpoenas to Portfolio Recovery Associates LLC; Encore Capital Group; ...
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