Consumer Law

Debt collector agrees to pay record FTC fine of $3.2M, stop calling individuals multiple times daily

The world’s largest debt collection agency has agreed to pay a record $3.2 million civil penalty to the Federal Trade Commission and eliminate abusive and harassing practices such as calling debtors multiple times daily.

Expert Global Solutions, which is based in Texas, and its subsidiaries, have over 32,000 employees and earned revenue of over $1.2 billion in 2011, reports Reuters.

The company did not respond to a request for comment by the news agency, but senior vice president Tom Hoy of subsidiary NCO Financial Systems Inc. did. “We … have worked hard over the past several years to help ensure compliance and fair treatment of consumers on all of our points of contact,” he said in an email to Reuters.

An FTC press release provides further details.

We welcome your comments, but please adhere to our comment policy and the ABA Code of Conduct.

Commenting is not available in this channel entry.