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

  • The Supreme Court on Monday heard arguments in a case that dates back to the financial crisis a decade ago.

  • The justices, missing Justice Ruth Bader Ginsburg, 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."

January 7, 2019 | 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." Read more here.