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Banks, Finance Companies Fret Over Sweep of Debt Collection Law

The National Law Journal

18 Apr 2017

The Henson v. Santander Consumer USA argument is causing concern for banks, retailers, and finance companies that buy and sell loans because of its implications that their practices could fall under the eye of the Fair Debt Collection Practices Act. In The National Law Journal article “Banks, Finance Companies Fret Over Sweep of Debt Collection Law,” Morrison & Foerster partner Joseph R. Palmore predicts that if that happens, the cost of credit will increase and the secondary market in loans will be chilled.

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