UK Regulator Told to Pay Up in Debt Collection Row
A business in the United Kingdom has won a case against that country’s Financial Services Authority (FSA) for the agency’s failure to properly inform its private debt collection agency that the company had paid its debt.
A commissioner dealing with the complaint ruled Tuesday that the FSA must pay the firm £500 in compensation.
The unnamed firm was dinged with £2,700 in fines following an enforcement action by the FSA. The company paid the fine but was contacted by debt collection agencies shortly thereafter. The business complained to the FSA, who initially admitted an error. But collectors kept calling after the debt.
Complaints Commissioner Anthony Holland wrote to the firm in his ruling, “In this instance, it does not appear that the FSA has provided you with the level of service a member of the industry and/or public would expect.”
Continuing the Discussion