On March 27, RMA’s Director of Government Affairs & Policy, David Reid, testified against Oregon HB 2356. David Reid and RMA member Mike Roskam were the only two witnesses to testify in opposition of the bill. Proponents of the bill gave testimonies describing debt buyers as excessively litigious, unconcerned about proper documentation, and prone to manufacture false evidence. As you know, these are practices that fall far short of the standards expected and required of RMA-Certified companies.
Such portrayals are not only inaccurate, they are also dangerous.
These portrayals lead to bills like HB 2356, Colorado SB 216, D.C. Bill 71, Maine HP 836, Maine HP 865, Massachusetts SB 120, Oregon HB 2166, and many more. The California Assembly has introduced AB 1526, which would expunge all debt at the expiration of the four-year statute-of-limitations, including removal from credit reports. If a bill like AB 1526 passes in California, it sets a precedent for copycat legislation in places like New York and Texas. Furthermore, such legislation propagates the false perception of debt buyers as unscrupulous and in dire need of regulation.
RMA does not accept these bills as fair and balanced—and neither should you.
RMA is currently tracking 141 state-level bills that, if passed, would have disastrous effects on the receivables management industry. In 2017, the industry has reached a record number of negative state bills. In the first quarter of 2017, RMA has already retained lobbyists in six states to fight these bills. Advocating for fair and balanced legislation helps not only companies with accounts in those states, but prevents a nationwide domino effect. In the New England states, RMA is the only national trade association actively advocating on behalf of the receivables management industry.
We can’t win this fight without your support.
Last year, 20 percent of our members participated in donations to the RMA Legislative Advocacy Fund. If our members who have never contributed pitch in as little as $200, our advocacy efforts would be significantly amplified.
Help us defend the entire industry by blocking dangerous legal precedents. There are three easy ways to contribute: