Regent banned from collecting debts

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Regent Asset Management Solutions and its CEO Michael Scata are banned from engaging in the unlicensed collection of debt in Colorado after allegedly violating the state’s fair debt laws.

The court order also requires that Regent pay the state $70,000 in civil penalties for its violation of the Colorado Consumer Protection Act.

The order stems from a lawsuit filed by Attorney General John Suthers alleging that the company collected debts from Colorado consumers after its license expired in July 2010. The state also claims that Regent did not provide consumers with evidence of the debt it was attempting to collect.