Debt Collector Encore to Pay $15 Million in CFPB Settlement

Encore Capital Group Inc., the country’s largest debt collection firm, will pay more than $15 million to resolve a Consumer Financial Protection Bureau lawsuit alleging the company violated the terms of a 2015 enforcement action.

Encore and its subsidiaries, Midland Funding LLC; Midland Credit Management Inc.; and Asset Acceptance Capital Corp., agreed to the CFPB civil penalty and nearly $80,000 in consumer relief under a proposed settlement filed Thursday in the U.S. District Court for the Southern District of California.

The settlement resolves a Sept. 8 CFPB lawsuit that alleged Encore violated a 2015 consent order by filing debt collection ...