David Dodd 2:33 a.m., May 19
Subsidiary of San Diego's Encore Capital to pay $500,000 to Minnesota
Midland Funding LLC, a subsidiary of San Diego's publicly-traded Encore Capital Group, has agreed to overhaul its collection practices and pay Minnesota $500,000, according to the Minneapolis StarTribune. Midland faced allegations that it robo-signed paperwork in collection lawsuits without verifying, or in some cases even including, basic facts and signatures, says the StarTribune. Minnesota's attorney general announced the agreement at a press conference today (Dec. 12). Encore purchases portfolios of defaulted consumer receivables.