Debt Collectors Fined and Ordered to Stop Operations

Washington DC - Two debt collection agencies were ordered to stop operations and fined more than $60 million by the Consumer Financial Protection Bureau (CFPB) and New York's Attorney General. The settlement involves debt companies run by Douglas MacKinnon and Mark Gray. Their companies are accused of using predatory collection tactics that include collecting false debts and impersonating police officers to force collection.

"Abusive debt collection practices need to be stopped,” stated Eric LeCompte who leads the religious debt watchdog group, Jubilee USA Network. “This settlement is a strong warning to debt collectors who engage in predatory activities."

Mackinnon and Gray's Buffalo-based network of debt collectors reportedly increased debt collection amounts, in some cases by as much as 600%.