Credit-card bank reaches $10M settlement in debt-collection suit

Key insight: Credit One's settlement came in a case involving a 1977 California law, the Rosenthal Fair Debt Collection Practices Act.Why it matters: The California Debt Collection Task Force has now won four settlements in cases involving debt-collection practices.Supporting data: The $1.9 billion-asset Credit One agreed to pay $10.2 billion to end the five-year legal battle. Credit One Bank, which specializes in subprime credit cards, moved to end nearly five years of litigation with a group of California ...