The CFPB ordered Midland to pay out $42 million in refunds, stop collecting on $125 million in debt, and pay a penalty of $10 million to the CFPB’s Civil Penalty Fund. Press release. It also took action against Portfolio Recovery Associates. This is a very brief list of the illegal collection tactics Midland was found to be engaging in. Recently, the Consumer Financial Protection Bureau (CFPB) cracked down on Encore Capital Group, which operates as Midland Funding, LLC among others. CFPB Takes Action Against the Two Largest … Stipulation.
CFPB took action against Encore Capital Group for using deceptive tactics to collect bad debts.
The CFPB found that Midland Funding … Related documents. Consent Order. A few weeks back I reported how the Consumer Financial Protection Bureau (“CFPB”) had sanctioned both Midland Funding and Portfolio Recovery Associates for their illegal debt …
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