CFPB Announces $60 Million Fine Against Debt Collectors

WASHINGTON—The Consumer Financial Protection Bureau banned two debt collectors and fined them more than $60 million, extending a crackdown on abusive practices in a heavily scrutinized segment of the financial industry.

On Thursday, the CFPB and New York’s attorney general announced a proposed settlement with Douglas MacKinnon and Mark Gray. The settlement would conclude a case that began in 2016, when the two were accused by the agency of overseeing a network of debt collectors based in Buffalo, N.Y., that “harassed, threatened…

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