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Tag Archives: PRA

Should CFPB Stand For Curbing Funding of Portfolio Buying?

Is the Consumer Financial Protection Bureau trying to legislate the debt-buying industry through a series of settlements it has reached with participants in this market? It would certainly seem so, especially considering the terms of a settlement announced yesterday between the CFPB and Encore Credit and Portfolio Recovery Associates. Among …

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CFPB Takes Big Swing at Encore, PRA

The Consumer Financial Protection Bureau has taken a huge swipe at the collection activities of Encore Capital Group and Portfolio Recovery Associates, assessing millions of dollars in fines and forcing the two debt-buying giants to stop collections on nearly $130 million in debts that the companies purchased. The companies stand accused …

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