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Article: Wayward Agencies In The Spotlight.(News and Analysis)
- Article from:
- Collections & Credit Risk
- Article date:
- September 1, 2009
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Several collection agencies that allegedly used illegal collection tactics either reached settlements with federal and state regulators in recent months - or were shut down by them.
Scrutiny of the collection industry intensified in New York in late July when Attorney General Andrew Cuomo asked a judge to void 100,000 faulty default judgments that debt collectors used to freeze bank accounts across the state.
Cuomo announced in May that his office had launched an investigation to crack down on unlawful collection practices. Weeks later his office shut down a collection operation that consisted of at least nine collection companies across Western New ...