The on-loan Shrewsbury has been reprimanded by both his parent club and Northampton and fined two weeks wages.
Cobblers chairman Kelvin Thomas said Collins' actions had "damaged the reputation of the two clubs and football in general.”
On the pitch, this weekend can see Town take another step closer to League One as they travel to face a Stevenage side only one place above the relegation zone, albeit with a seven-point cushion over York City.
With four consecutive defeats to their name, the hosts will not relish facing a Northampton team keen to extend their 11-point lead at the top of the table and seal the first promotion of the 2015/16 English season.