The Consumer Financial Protection Bureau ordered PRA Group Inc. to pay $24 million to resolve claims that the debt collector violated a 2015 settlement over improper collection practices.
Portfolio Recovery Associates, a PRA Group subsidiary, collected on unsubstantiated debt and collected on debts without providing proper documentation, the CFPB said in a complaint filed Thursday in the US District Court for the Eastern District of Virginia.
The Norfolk, Va.-based company, one of the largest debt collectors in the US, also allegedly threatened to sue people without offering or possessing necessary documentation of alleged debts. PRA also filed lawsuits and collected ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.