The owner of a Houston-based debt collection operation that the Federal Trade Commission charged with using insults, lies and false threats of jail time to collect on payday loans will surrender his assets, estimated to be worth $550,000, to pay restitution to consumers who were charged unauthorized fees.

Gerald Wright and co-defendants and company managers Starlette Foster and Jennifer Zamora all are permanently banned from debt collection work. 

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.