Judge certifies NY class action over big debt collector’s high rates

A federal judge has certified a class-action lawsuit accusing the big U.S. debt collector Midland Funding LLC of violating New York usury laws by charging thousands of struggling borrowers interest rates above 25 percent when trying to collect. Monday's decision by U.S. District Judge Cathy Seibel in White Plains, New York came eight months after the U.S. Supreme Court refused to hear an appeal by Midland Funding and Midland Credit Management Inc, which are units of Encore Capital Group Inc, seeking to halt Saliha Madden's lawsuit.