On August 11, 2022, the Federal Trade Commission (FTC) announced its issuance of an Advance Notice of Proposed Rulemaking (ANPR) wherein it seeks public comment on issues related to “harmful commercial surveillance and lax data security.”
The deadline for submitting comments will be 60 days from the date […]
RMAI filed an amicus curiae brief this week asking an Arizona court to toss out a November ballot initiative that would materially harm judgment creditors by almost doubling the state’s homestead exemption and nearly quadrupling its exemption for wages, among other things.
Under Arizona law, ballot initiatives cannot contain statements that are “objectively false” or contain […]
RMAI is pleased to announce retaining the full-service firm of Cozen O’Connor for attorney general (AG) representation. Cozen O’Connor represents some of the biggest companies in the world, and RMAI and RMAI members will benefit from Cozen O’Connor’s extensive experience and established relationships.
Paul Connell is RMAI’s primary contact with Cozen O’Connor. Connell will attend RMAI’s […]
RMAI is pleased to announce the release of a new educational resource, The Purchase, Sale, and Collection of the Fintech Asset Class. The area where financial service products and technology merge is popularly referred to as fintech. Fintech lending has experienced significant growth in the last several years, leading to an increase in nonperforming accounts. […]
Rhode Island Governor Daniel McKee has signed into law SB 2794/HB 7781 which requires a $50,000 bond for licensed debt collectors in Rhode Island. The bond amount for debt collectors is similar to bond amounts for other businesses in Rhode Island.
Please note that this law takes effect immediately.
RMAI recommends that members collecting debt from Rhode […]
The Consumer Financial Protection Bureau (CFPB) issued a new advisory regarding the obligation of credit reporting companies and users of credit reports to protect the public’s data privacy. Companies using and sharing credit reports and background reports must have a permissible purpose under the Fair Credit Reporting Act. There is potential criminal liability for certain […]
The Consumer Financial Protection Bureau (CFPB) today issued an advisory opinion affirming that debt collectors are often prohibited from charging “junk fees” or “pay-to-pay” fees under Federal law. These charges are additional fees imposed to pay a debt a particular way, such as by phone or online. The CFPB recognizes that most debt collectors allow […]
RMAI is an inclusive organization that fosters the participation of a diverse group of employees from all member companies in all RMAI networking activities, educational programming, and committee service. To that end, RMAI created the Diversity Equity Inclusion (DEI) Annual Conference Scholarship.
The 2023 Annual Conference will be held at the Aria […]
Even after the New York State Office of Court Administration (OCA) issued new form affidavits in May, RMAI continued to fight for additional improvements. We are pleased to report OCA accepted our requested changes. Instead of having separate exhibit requirements for “post-charge-off date and amount” and “delinquency date and amount” it now states “post-charge-off/delinquency date […]
As RMAI has previously reported to our members, starting January 1, 2022, anyone collecting debt in California must be licensed by the Department of Financial Protection and Innovation (DFPI). DFPI recently sent out a message re: processing delays. Excerpts are below, and you can read the full message here.
“The Department of Financial Protection and […]