A "collection agency" is a business that pursues payments on debts owed by individuals or businesses. Some collection agencies operate as agents of other companies (such as banks or credit card companies), and collect debts for a fee or percentage of the total amount owed. Other collection agencies act for their own account, purchasing debts from a creditor for a significant discount from the face amount owed, and then actively pursuing the debtors to make their payments. For consumer debts, consumer protection laws may impact the practices employed by collection agencies.