High Court Leaves Door Open For More Debt Collection Cases

By Evan Weinberger (June 12, 2017, 5:34 PM EDT) -- A Monday U.S. Supreme Court decision determining that federal debt collection laws do not apply to banks that collect on debt that they buy leaves hanging the key question of how much of the debt a firm collects it must own to be exempt from the law's consumer protections.

Many banks that purchase consumer debt and collect on it also act as servicers of credit cards, auto loans and other debt held by third-party creditors. The Fair Debt Collection Practices Act applies consumer protections to firms that collect on debt held by other creditors, but Monday's Supreme Court decision in Henson...

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