The customer, 32-year-old Allen Jones of Dallas, said he received the calls because of an $81 debt on his Bank of America credit card. Jones said the calls continued even after he told the debt collection company he had paid his credit card bill. "The representative acted like, oh, we can call you as many times as we want," Jones said in an interview broadcast on ABC World News with Diane Sawyer and Nightline. CLICK HERE TO WATCH THE WORLD NEWS WITH DIANE SAWYER SEGMENT,CLICK HERE TO WATCH THE NIGHTLINE SEGMENT, AND CLICK HERE TO READ THE BLOTTER ARTICLE
Jones saved the taped messages and hired lawyers to sue ACT. A jury in Texas found both the debt collectors and the corporation responsible and awarded Jones more than $1.5 million.
Impact: Two days after ABC News confronted the Bank of America CEO on a Manhattan street corner, the banking giant terminated its contract with ACT.
Bank of America notified ACT its services were no longer needed, "as a result of what was raised here," said ACT chairman Chris Debbas.
Bank of America said its decision to terminate ACT was not related to the ABC News investigation, but because of issues surrounding the economy.
The ACT chairman said Bank of America had been supportive of his company, even after the verdict, and had not acted until after the ABC News interview with Moynihan.
ACT has since made management changes, according to its chairman, who said the phone calls were "deplorable."
"I worked very hard to build this company and our management team and it is unthinkable that somebody would call somebody and do that," Debbas told ABC News. He declined to identify other major corporate clients but said they continue to his firm's collection services.
"Everybody understands in this business how hard it is, everybody was outraged by what they heard, and I was indignant," said Debbas.