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Henson v. Santander Consumer USA Inc., 582 U.S. ___ (2017), is a decision by the Supreme Court of the United States which held that a company is not a "debt collector" under the Fair Debt Collection Practices Act (FDCPA) if it purchased that debt and then attempts to collect from the debtor.
Santander Bank, N. A. ( / ˌsɑːntɑːnˈdɛər /) is an American bank operating as a wholly-owned subsidiary of the Spanish Santander Group. It is based in Boston and its principal market is the northeastern United States. It has $57.5 billion in deposits, operates about 650 retail banking offices and over 2,000 ATMs, and employs approximately 9,800 people. [4] It offers an array of ...
The recovery of funds from the Madoff investment scandal has been underway since the scandal broke in December 2008. That month, recovery trustee Irving Picard received funds from the Bank of New York account where Bernard Madoff held new investments into his Ponzi scheme. As it has been concluded that no legitimate investments were made on the investors' behalf for at least the last 12 years ...
The bank accounts of tens of thousands of U.S. businesses and consumers have been frozen in the aftermath of the abrupt shutdown and bankruptcy of financial technology company Synapse, which acts ...
GE Capital was the financial services division of General Electric. [1] Its various units were sold between 2013 and 2021, including the notable spin-off of the North American consumer finance division as Synchrony Financial. Ultimately, only one division of the company remained, GE Energy Financial Services, which was transferred to GE Vernova when General Electric was broken up.
The Supreme Court rejected a business-backed challenge that could have scuttled the federal agency set up to protect consumers from shady financial services practices.
Some iconic businesses have appealed to the courts for bankruptcy protection, owing their woes to the COVID-19 pandemic.
In Henson v. Santander Consumer USA Inc., the Supreme Court excluded collection companies that purchase consumer debt from the FDCPA when it unanimously held that a company may collect debts that it purchased for its own account without triggering the statutory definition of a "debt collector" under the Fair Debt Collection Practices Act. [12]