Nebraska, Iowa and 17 other states have reached a settlement with NCO Financial Systems Inc. over allegations of misleading and abusive debt collection practices.
The office of Nebraska Attorney General Jon Bruning says the 19-state agreement includes $50,000 restitution for each state's consumers who were affected.
In the settlement, NCO didn't admit any wrongdoing. Among other commitments, it agreed to notify consumers about their rights under the laws and notify credit reporting agencies of consumer disputes.
NCO's CEO, Ronald Rittenmeyer, said in a news release the company is pleased to resolve the states' concerns, "as well as upgrade our compliance processes, all which will permit us to improve our consumer interaction."
NCO Financial is based in Horsham, Pa.
