Consumer bureau orders debt collection agency to shut down for illegal practices
Collection Industry News
DECEMBER 25, 2023
New YorkCNN — The Consumer Financial Protection Bureau on Friday ordered Commonwealth Financial Systems, a debt collection agency specializing in medical debt, to shut down as a result of what CFPB determined were illegal collection practices. Specifically, the CFPB said that the company, which is based in Dickson City, Pennsylvania, “failed to conduct reasonable investigations of disputed debts and failed to inform consumer reporting companies that certain information was being disputed … (and)
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