SACREMENTO, Calif. -- The RMAI Certification Council announces the adoption of version 9.0 of the Receivables Management Certification Program (RMCP) after an eight-month development and review process. Several significant enhancements were added to the program in version 9.0, including requiring Certified Businesses to:
- Avoid the solicitation or attachment of government emergency relief funds (not limited to COVID-19).
- Maintain a formal Consumer Hardship Policy that is activated with a declared state of emergency.
- Adhere to robust criteria when working in a “virtual office” or a “work-from-home” scenario.
- Refrain from accruing interest on credit card accounts after charge-off and prior to judgment.
- Expand data security requirements regarding offsite access to the Certified Company’s network.
- Have in their possession all appropriate documents when attending court hearings and be prepared to provide the same information to the court.
- Attend courses ensuring the elimination of bias in debt collection.
“RMAI continues to be the industry thought leader in advancing comprehensive and uniform standards of best practice for the receivables management industry,” said Jim Mastriani, President of the Receivables Management Association International (RMAI). “Through the certification of debt buying companies, collection agencies, collection law firms, brokers, and vendors, RMAI is offering the industry a single compliance footprint that sets high-level professional standards for the entire life cycle of accounts receivables. This is an invaluable resource not only for the industry but also the consumers we serve.”
For more information on RMAI certification for receivable businesses and individuals, please visit the RMAI website at www.rmaintl.org/certification.
Receivables Management Association International (RMAI) is a nonprofit trade association representing more than 550 companies that purchase or support the purchase of performing and nonperforming receivables on the secondary market. The RMAI Receivables Management Certification Program and Code of Ethics set 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.