Consumer agency fines South Carolina firm $5 million over improper debt collection

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  1. sniper-academy

    sniper-academy Administrator Staff Member

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    The Bureau of Consumer Financial Protection said it's reached a settlement with South Carolina's Security Group Inc., which is privately held, for allegedly making improper in-person and telephonic collection attempts on consumer installment loans and retail sales installment contracts. The agency said the actions taken included physically preventing consumers from leaving their homes and visiting and calling consumers' places of work while knowing that those contacts could endanger the consumers' employment. The company is barred from certain collection practices, has to correct inaccurate information about consumers furnished to credit-reporting agencies and was fined $5 million. It's the second enforcement action since Mick Mulvaney became interim director of the agency.

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