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U.S. Supreme Court to hear debt collection dispute
January 13, 2017 / 7:38 PM / a year ago

U.S. Supreme Court to hear debt collection dispute

NEW YORK, Jan 13 (Reuters) - The U.S. Supreme Court on Friday agreed to decide whether firms collecting on debt they bought for pennies on the dollar can be held liable in lawsuits brought by debtors they targeted under a federal law cracking down on debt collectors’ abusive practices.

The justices agreed to review a lower court’s decision to dismiss a consumer class action lawsuit against Santander Consumer USA Holdings Inc over allegations it violated the Fair Debt Collection Practices Act. The case could have a major impact on debt buyers, a fast-growing segment of the multibillion-dollar debt collection industry.

Reporting by Andrew Chung; Editing by Will Dunham

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