Which of the following companies would risk the revocation of its operating licence for harassing, threatening, and exerting undue pressure on a defaulting borrower?

Question

Quizplus · Accepted Answer

Collection agencies are responsible for collecting debts on behalf of creditors, but they are also required to follow strict regulations and guidelines when doing so. Harassing, threatening, or exerting undue pressure on a defaulting borrower is illegal and can result in the revocation of a collection agency's operating license. Banking institutions, credit bureaus, and credit card companies may also be subject to regulations, but they are not typically involved in the collection process to the same extent as collection agencies.

Which of the Following Companies Would Risk the Revocation of Its