Posted on Leave a comment

Loan companies to cover $61 Million in Consumer Refunds and Amend Their methods

Loan companies to cover $61 Million in Consumer Refunds and Amend Their methods

Federal consumer regulators on Wednesday announced an enforcement action against two debt that is big businesses for making use of misleading strategies to gather delinquent records.

The customer Financial Protection Bureau ordered the ongoing businesses, the Encore Capital Group and Portfolio Recovery Associates, to cover a combined $79 million in refunds and charges, to end collections on debts totaling $128 million also to alter their business collection agencies techniques. Continue reading Loan companies to cover $61 Million in Consumer Refunds and Amend Their methods