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Sacramento, CA – The Receivables Management Association International (RMAI) and BBB National Programs announced today that, effective March 1, 2024, BBB National Programs will independently administer the Remediation Committee for RMAI’s Receivables Management Certification Program (RMCP).
The RMCP is RMAI’s flagship industry self-regulatory program that provides enhanced consumer protections through rigorous and uniform industry standards of best practices. The program was launched in 2013, and currently certifies 494 businesses and individuals within the receivables management industry. Businesses that are eligible for certification include debt buying companies, collection agencies, collection law firms, brokers, process servers, and vendors.
As of January 1, 2025, all debt-buying companies that are members of RMAI will be required to be certified as a condition of membership.
The “RMAI Services” agreement, under which BBB National Programs will independently administer the RMAI Remediation Committee, includes oversight of the process to remedy non-compliance with RMAI’s rigorous uniform certification standards. BBB National Programs, a non-profit organization, is the home of independent industry self-regulation in the U.S., currently operating more than twenty globally recognized programs that have been helping enhance consumer trust in business for more than 50 years.
The RMAI Remediation Committee is responsible for the administration of all corrective remedial actions and discipline associated with the certification program. “We are excited to have BBB National Programs bring an independent third-party element to the program,” said Jan Stieger, Executive Director of RMAI. “This collaboration underscores RMAI’s proactive approach to consumer protection and reinforces our members’ commitment to ethical conduct.”
“BBB National Programs is proud to support RMAI in its efforts to promote trust and transparency in the receivables management sector,” said Eric D. Reicin, President and CEO, BBB National Programs. “While many industries have “self-regulated” over the years, the smartest industries have realized that independent industry self-regulation, built in concert with a nonprofit third party such as BBB National Programs, is the best way to build an accountability program that is respected by regulators and trusted by consumers.”
The adoption of uniform standards for the receivables management industry helps ensure that those who are certified are aware of and are complying with state and federal statutory requirements, responding to Consumer Complaints and inquiries, and following industry best practices.
These new services, administered by BBB National Programs, complement RMAI’s extensive expertise in debt collection with BBB National Programs’ dedication to advancing marketplace trust through industry self-regulation and dispute resolution.
For media inquiries or more information about this announcement, please contact:
Penny Cunha, Deputy Director
Receivables Management Association International
Jennie Rosenberg, Media Relations
BBB National Programs
About RMAI:
Receivables Management Association International (RMAI) is a nonprofit trade association representing more than 600 companies that purchase or support the purchase of performing and nonperforming receivables on the secondary market. The RMAI Receivables Management Certification Program celebrated its 10th anniversary in 2023. Together with RMAI’s Code of Ethics, the Certification Program sets the global standard within the receivables industry due to the rigorous uniform standards of best practice which focus on protecting consumers. More information about RMAI is available at www.rmaintl.org.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than 20 globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
