July 16, 2019 (Sacramento, CA): Today, Receivables Management Association International (RMAI) announced the release of a new infographic demonstrating the low number of complaints filed against Receivables Management Certification Program (RMCP) certified businesses. When looking at the number of accounts RMAI certified businesses collect on, only a small percentage of those accounts receive complaints on the Consumer Financial Protection Bureau’s (CFPB) Consumer Response Portal. It was found that 1 out of 5,000 accounts in collections receive complaints.
Based on CFPB data, the newly produced infographic shows that 100 percent of consumer complaints received responses from the certified businesses, and 99.3 percent of the responses were timely. Additionally, out of the 132 certified businesses, 97 percent have a statistical zero percent, or no complaints filed.
“RMCP certified businesses are dedicated to industry standards of best practices, especially when taking a closer look at consumer concerns, inquiries, and notifications. RMCP promotes consumer protection, and this is evident in how complaints make up such a small percentage of the accounts handled by RMCP certified businesses. Almost all our certified businesses have statistically zero complaints. And when RMCP certified businesses do have complaints on the CFPB Complaint portal, everyone receives a response.”
– Marian Sangalang President of RMAI Board of Directors
Businesses certified by the RMAI thrive in providing excellent service. Because the program’s standards were designed to go beyond the requirements of state and federal laws, consumers are afforded additional protections when working with businesses certified by RMAI.
The one-page infographic highlighting the results of the analysis can be found at https://rmaintl.org/complaints-infographic/
About Receivables Management Association International:
Receivables Management Association International (RMAI) is a nonprofit trade association that represents more than 500 companies that purchase or support the purchase of performing and nonperforming receivables on the secondary market. The Receivables Management Certification Program and Code of Ethics set the global standard within the receivables industry due to its rigorous uniform industry standards of best practice which focuses on the protection of the consumer.
More information about RMAI is available at www.rmaintl.org.