Encore Capital Group, Inc.

ECPG

On September 8, 2020, the Consumer Financial Protection Bureau (“CFPB”) filed a complaint alleging that Encore Capital Group and its subsidiaries violated a consent order “by suing consumers without possessing required documentation, using law firms and an internal legal department to engage in collection efforts without providing required disclosures, and failing to provide consumers with required loan documentation after consumers requested it.” On this news, shares of Encore Capital Group stock fell $3.59 per share, or approximately 10%, to close at $42.29 on September 9, 2020. Then on November 2, 2020, Encore Capital Group announced that it had paid $15 million to the CFPB to settle the complaint. On this news, the Company’s stock fell another $2.44 per share on November 3, 2020, representing another drop of over 7%.

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