The CFPB has released its Final Rule on removing medical debt from credit reports. RMAI is still reviewing the 345-page rule but has prepared the below summary.
The CFPB finalized its definition of medical debt information in § 1022.3(j) [located on page 340], as “medical information that pertains to a debt owed by a consumer […]
Receivables Management Association International holds elections each year to approve a slate of officers and elect new Directors to open seats. In 2025, there are three (3) open Director seats on the 10-member Board: two (2) certified debt-buyer seats and one (1) certified third-party collection agency seat.
Voting Process
The ballot can be downloaded here. Certified-company […]
On December 21, 2024, A8872-A and S2659-B were signed into law by Governor Hochul, amending New York’s data breach notification law. The bills, where are identical, went into effect immediately.
The amendments create the following requirements:
The annual business meeting of the Receivables Management Association International will be held at RMAI’s Annual Conference on Tuesday, February 11, 2025 at 4:10pm at the Aria Resort & Casino in Las Vegas, Nevada. Please join the business meeting to hear reports from the Executive Director, President, and Treasurer. The minutes from the 2024 […]
Awards Will Be Presented at the 2025 Annual Conference
Nominate an Industry Leader for the Bud Reitzel Award
Considered one of the industry’s founding fathers and a mentor to so many in the industry, Bud Reitzel brought integrity, innovative thinking, and passion to the industry he helped create. The values Bud instilled at Asset Acceptance […]
This week, the Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking that could significantly alter the landscape of consumer reporting practices. The CFPB also issued a press release on the proposal. This proposed rule includes sweeping changes that redefine key terms, expand regulatory oversight, and impose new restrictions on the […]
A recent issue has arisen pertaining to objections to Proof of Claims in bankruptcy cases filed in the Western District of North Carolina. RMAI recommends that our members consult with their legal counsel on how best to address the issue as it pertains to their organizations.
Specifically, there has been an increase in the number of […]
Are you passionate about shaping the future of the receivables management industry? RMAI is now accepting candidates for the 2025 board of directors. Serving on the board offers a unique opportunity to drive strategic initiatives, represent our members’ interests, and influence the direction of your association.
RMAI is seeking qualified candidates who wish to run for […]
Earlier today, the New York City Department of Consumer and Worker Protection (DCWP) published a change to the effective date for the amended New York City Debt Collection Rules that were adopted on August 12, 2024. The new effective date will be April 1, 2025. Previously, the amendments were set to go into effect on December 1, 2024.
This change is […]
Earlier today, the New York City Department of Consumer & Worker Protection (DCWP) announced that they are going to delay enforcement of the new Debt Collector Rules until April 1, 2025. The announcement came just two business days after a lawsuit challenging the legality of the new rule was filed, which RMAI reported on in […]