Collection Company Pays Record $2.8 Million Fine to FTC

West Asset Management Inc. will pay a $2.8 million fine to settle Federal Trade Commission allegations its use of belligerent collection tactics violated federal law, the largest civil penalty ever won by the FTC in a debt collection case.

The FTC, which pursued West Asset Management as part of its ongoing campaign to protect consumers struggling to make ends meet, accused the debt collection company of violating the FTC Act and Fair Debt Collection Practices Act through false, deceptive and unfair debt collection practices.