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Encore Captial Settles Class Action Lawsuit

Encore Capital Group Inc. said it agreed to settle all pending class-action lawsuits accusing the nation's largest buyer of distressed consumer debt of using flawed or even phony affidavits to collect money it was owed. The San Diego company reached agreements to settle an unspecified number of suits across the U.S. for as much as $5.7M. In the most prominent case, an Ohio federal judge ruled in 2009 that Encore violated federal and state laws by trying to collect credit-card debt using a fake affidavit.  JESSICA SILVER-GREENBERG , Wall Street Journal - 02/18/2011