Supreme Court debates the meaning of the term 'debt collector' in a foreclosure protections case dating back to the financial crisis

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Supreme Court debates the meaning of the term ‘debt collector’ in a foreclosure protections case dating back to the financial crisis

Supreme Court debates the meaning of the term ‘debt collector’ in a foreclosure protections case dating back to the financial crisis

CNBC-

Markets are racked by turmoil, and there are signs the booming U.S. economy could slow down later this year. Yet the Supreme Court is reckoning with the lingering fallout from the financial crisis that rocked the global economy a decade ago.

The top court on Monday attempted to resolve a legal question that could have broad ramifications on hundreds of thousands of Americans who are foreclosed on without a judicial process each year. A key issue in the matter is who or what can be considered a “debt collector.”

The justices were divided, but not into clear ideological zones. Chief Justice John Roberts and Justice Brett Kavanaugh, Republican-appointed conservatives who are typically business friendly, were among the most skeptical questioners of the respondent in the case, a law firm working on behalf of Wells Fargo.

[CNBC]

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