Connecticut regulator issues final order against allegedly unlicensed collection agency

On February 10, the Connecticut Banking Commissioner issued an order requiring a New York-based collection agency to cease and desist from violating Connecticut laws governing collection agencies and pay a $100,000 civil penalty after the company failed to request a hearing following a January 6 notice of intent. The commissioner’s investigation found the agency attempted to collect debts in Connecticut despite never holding a consumer collection license in the state and had engaged in... By: Orrick, Herrington & Sutcliffe LLP