The Consumer Financial Protection Bureau (CFPB) yesterday filed a lawsuit in the federal district court in the District of Maryland against FCO Holding, Inc. and its subsidiaries, Fair Collections & Outsourcing, Inc., Fair Collections & Outsourcing of New England, Inc., and FCO Worldwide, Inc., according to a CFPB press release. The entities are Maryland-based debt collectors that operate collectively under the name Fair Collections & Outsourcing and FCO. Also named in the Bureau’s lawsuit is Michael E. Sobota, the chief executive officer, president, director, and owner of FCO Holding, Inc. The Bureau’s complaint alleges that FCO violated the Fair Credit Reporting Act, Regulation V and the Consumer Financial Protection Act.
