Debt collection businesses fined, must reform
St. Paul, Minn. — Eight collection agencies doing business in Minnesota face fines and orders to make reform after failing to properly screen employees for criminal backgrounds.
Some of those debt collection employees allegedly stole debtors identities and engaged in other misconduct, said State Commerce Commissioner Mike Rothman.
"In numerous instances, credit card numbers and bank accounts and personal information of consumers were at the disposal of criminals or employees who had criminal background," Rothman said.
Some of the fines against the debt collection agencies run as high as $300,000. The department of state commerce will monitor the progress of the collection companies as they make reforms.
"We will be monitoring them as we go forward to make sure the processes are properly in place," Rothman said.