Collection agency to pay $10,000 for operating without a license in Connecticut

State Issues Licensing Connecticut State Regulators Enforcement

On June 24, the Connecticut Department of Banking issued a consent order against a company for operating as a consumer collection agency without obtaining the proper license. According to the order, the company filed a consumer collection agency license application in Connecticut in June 2020. However, during its review of the company’s application, the Department of Banking discovered that it had been operating as a consumer collection agency without a license in the state since 2019. Under the terms of the consent order, the company must pay a civil penalty fine of $10,000, and pay $800 to cover licensing fees.