Las Vegas, NV - November 09, 2015
The Nevada Financial Institutions
Division (FID) has joined Operation Collection Protection (OCP) - a coordinated
federal-state enforcement initiative targeting deceptive and abusive debt
collection practices. Led by the Federal
Trade Commission (FTC), more than 75 organizations participate in OCP,
including the Consumer Financial Protection Bureau, the U.S. Department of
Justice, Attorneys General from 47 states, as well as state and local regulatory
Law enforcement actions taken under
this new initiative aim to crack down on illegal tactics such as harassing
phone calls and false threats of litigation, arrest, and wage garnishment. The
FTC last week announced 30 new law enforcement actions had been taken
nationally which brings to 115 the total number of actions taken so far this
year. Those actions include FID’s May 2015 Cease and Desist Order to Collect
Pros, LLC for conducting unlicensed activity in the state.
Some of these actions allege that
collectors knowingly attempted to collect so-called phantom debts – phony debts
that consumers do not actually owe. The illegal practices targeted by
authorities also include the failure of some collectors to give consumers
legally required disclosures and notices, or to follow state and local
“Being in debt is stressful enough
for many Americans without also being subjected to intimidation and false
threats,” FTC Chairwoman Edith Ramirez said. “Debtors have certain rights and rogue
collectors that step outside the law will face the consequences of illegal
Debt collectors in Nevada are subject to the federal Fair Deb Collection Practices Act.
Debt collectors may not:
Lie about your debt, who they are, or what happens if you don’t pay.
Harass or threaten you.
Tell anyone about your debt.
Debt collectors may:
Contact you by phone, letter, email or text, as long as they follow the rules and
disclose they are debt collectors.
Contact your attorney if you have one representing you. If you do not have an attorney,
they may contact other people, but only to find out your address, phone number
or where you work.
Send information about your unpaid debts to a credit reporting company.
More information about consumers’
rights with respect to debt collection can be found at http://www.consumer.ftc.gov/articles/0149-debt-collection.
In Nevada, you may report any
problem you have with a debt collector to the Nevada Financial Institutions
Division. The office is able to assist consumers in situations of unfair debt
collection practices through the consumer complaint process. Consumers should
visit www://fid.state.nv.us to submit the complaint form located on the website to submit to the Division for review and
FTC Operation Collection Protection press release:
Financial Institutions Division’s action against Collect Pros, LLC press release:
Nevada Financial Institutions Division
The Financial Institutions
Division, a division of the Department of Business and Industry is mandated to
maintain a financial institutions system for the citizens of Nevada that is
safe and sound, protects consumers and defends the overall public
interest. The Division also promotes economic development through the efficient,
effective and equitable licensing, examination and supervision of depository,
fiduciary, and non-depository financial institutions.
# # #