The two largest debt buyers in the US, Encore Capital Group (owner of Midland Funding, LLC) and Portfolio Recovery Associates spoke with officials at the CFPB for over a year, a fact repeatedly mentioned by Encore and PRA in calls with their investors. In September, the results of those talks were announced by the CFPB.
Fair Credit Reporting Act
Bad Paper: Chasing Debt From Wall Street to the Underworld by Jake Halpern
The New York Times Magazine has just published a cover story adapted from Jake Halpern’s phenomenal upcoming book, Bad Paper. You can read the entire article here. Because I can’t possibly capture Halpern’s outstanding writing style or story telling abilities, I offer the following excerpts article. In my opinion, Halpern’s book demonstrates that, despite what the industry contends, there is still plenty of actual ongoing systemic fraud and abuse.Read More »“Bad Paper” by Jake Halpern featured in New York Times Magazine Cover Story