In 2015, the Consumer Financial Protection Bureau (CFPB) settled an enforcement action against the Encore Capital Group (the parent of Midland Funding, Midland Credit Management and Asset Acceptance). The Encore group has an annual revenue of more than $1 billion dollars.
The 2015 consent order required Encore, Midland and Asset Acceptance to follow consumer protection laws and to notify & disclose consumers of collection amounts and fees.
On September 8, 2020, the CFPB sued Encore, Midland and Asset Acceptance again for widespread violations of the 2015 settlement, resulting in millions of dollars of ill-gotten gains.
According to the CFPB’s complaint, Midland, Asset Acceptance and Encore Capital Group:
As long as large corporations & debt buyers like Midland, Asset Acceptance and Encore Capital Group skirt the law, consumer financial protection lawyers are necessary.
Large federal bureaus like the CFPB are one part of protecting consumer rights in the US. Consumer protection lawyers are also a pivotal part of protecting the interests of the consumers by providing collection defense and also suing the wrongdoers for violations of important rights under the Fair Debt Collection Practices Act, the Fair Credit Reporting Act and similar consumer protection laws.
If you’re being sued or facing debt collection harassment or other unfair, deceptive or unlawful practices, don’t give up. Give us a call.
The Holland Law Firm has years of experience working on consumer protection lawsuits to ensure that you’re protected and represented.
Contact us today to set up a consultation with one of our consumer rights attorneys.