The Connecticut Department of Banking has fined a collection agency $15,000 for operating in the state without a license, the second time the company has been fined for doing so.
A copy of the order against Professional Debt Mediation can be accessed by clicking here.
The company was found back in 2018 to be operating as a collection agency in Connecticut without a proper license. The company was then licensed from November 2018 through January 1, 2022. The company filed for a license to collect in the state on January 26, 2023 and that application is currently pending.
The commissioner’s office investigated the company and found that it was operating as an unlicensed collection operation, in violation of state law and the previous enforcement order.
Rather than have a hearing, the collector voluntarily agreed to the consent order and the sanctions that were imposed by the state, but it did so without admitting or denying any of the allegations that were made against it.
Along with paying the $15,000 fine, the company also agreed to pay $400 for back licensing fees and it agreed to cease and desist from operating as a consumer collection agency in Connecticut without the proper license.
The company could have faced a fine of as much as $100,000 per violation.