Debt Collectors Fined and Ordered to Stop Operations

Submitted by Anonymous on Fri, 2019-07-26 15:40
Author: 
Kate Zeller
Locality: 
Local
Summary: 
Two debt collection agencies were ordered to stop operations and fined more than $60 million by the Consumer Financial Protection Bureau (CFPB) and New York's Attorney General.

Washington DC - Two debt collection agencies were ordered to stop operations and fined more than $60 million by the Consumer Financial Protection Bureau (CFPB) and New York's Attorney General. The settlement involves debt companies run by Douglas MacKinnon and Mark Gray. Their companies are accused of using predatory collection tactics that include collecting false debts and impersonating police officers to force collection.

"Abusive debt collection practices need to be stopped,” stated Eric LeCompte who leads the religious debt watchdog group, Jubilee USA Network. “This settlement is a strong warning to debt collectors who engage in predatory activities."

Mackinnon and Gray's Buffalo-based network of debt collectors reportedly increased debt collection amounts, in some cases by as much as 600%.

  • Share/Save

Add new comment

More information about text formats

Plain text

  • No HTML tags allowed.
  • Lines and paragraphs break automatically.
To prevent automated spam submissions leave this field empty.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.