What Happened at RMAI Shouldn’t Stay at RMAI

Last week’s Receivables Management Association International (RMAI) annual conference in Las Vegas was without a doubt one of the most successful conferences I have attended in years — including those that preceded COVID.

So, what exactly defines a successful conference? For me, a conference is successful if it receives an “A” in educational content and an “A” for networking opportunities. Few would disagree, the RMAI 2022 conference earned an “A+” in both categories.

 

Educational Content

From the opening keynote speaker to the last session of the conference, content was substantively rich. Whether due to the change in the administration, the Democrat majority party in the House of Representatives, or the party tie in the Senate, the country’s return to an era of consumer protection is driving change for credit issuers, debt buyers, debt collection agencies and collection law firms. Topics including Regulation F, new legal issues such as those presented in Hunstein, state legislation driving new rules for the collection of medical debt and new litigation strategies dominated the discussions.

Here are some of the highlights:

  • FDCPA claims shifting from Federal to state court – Fair Debt Collection Practices Act (FDCPA) plaintiffs who cannot prove they have sustained injury from the debt collector’s alleged violation have retreated from filing Federal court lawsuits. Instead, plaintiffs are filing FDCPA claims in state court. Defense attorneys warned attendees of the risks they assume by not taking state court actions seriously, advising them to retain counsel as soon as possible to avoid unexpected decisions and damage awards.
  • Insurance policy protection from data breaches – The increasing frequency of data breaches drove an interesting discussion that left attendees questioning whether their insurance policies adequately protected them from this type of loss. Seasoned legal and insurance experts encouraged attendees to review their policies, driving home that exposure to litigation, financial loss and reputational loss resulting from a data breach is a real possibility they could encounter.
  • Making ethics the cornerstone of your CMS – No RMAI conference is complete without Don Maurice’s annual update on ethics as the cornerstone of a robust compliance management system. Don and co-presenter Kelly Knepper-Stephens emphasized the reasons why attendees must incorporate the principles of business ethics in all aspects of their operation including but not limited to operations, sales, marketing and even contract negotiations.
  • RMAI advocacy program – RMAI has one of the strongest advocacy programs representing members of the credit and collection industry in the United States. The association retains federal, state and attorney general advocates who tirelessly represent the interests of the membership.
  • Innovative topics for expanding businesses – Fascinating sessions on artificial intelligence, fintech lending practices and emerging markets are just a few of the many topics presented by experts in their field. These sessions are of increasing value to attendees who seek opportunities to expand their business into new markets.

 

Networking Opportunities

Equally impressive were the various networking opportunities sponsored by RMAI, vendors such as Finvi and numerous law firms. The Exhibit Hall served as a hub of activity and was filled with attendees hungry to make new connections and resume long-time friendships. Breaks, lunches, receptions, dinners and impromptu meetings bookended each segment of the conference while private meetings filled the RMAI conference rooms.

 

As one of my first in-person conferences since the pandemic began, I can say, not only did RMAI hit it out of the park, but it was a welcome reminder of just how valuable it is to attend these live events again. I am excited for the opportunity to connect with colleagues and customers at Finvi’s PowerUp conference in New Orleans this June!

 

Disclaimer: Finvi is a technology company and provides this infographic solely for general informational and marketing purposes. You should not rely on the content of this material for any other purpose or as specific guidance for your company. Finvi’s advice, services, tools and products described herein do not guarantee compliance with any law or industry standard. You are ultimately responsible for your own company’s actions and compliance efforts. Because everyone’s situation is different, you must consult your own attorneys, accountants, and/or other advisors to obtain specific advice on your company’s compliance, legal, tax, regulatory and/or other business needs. Despite Finvi’s efforts to provide current and up-to-date information, you need to recognize that the information contained herein may become outdated quickly and may contain errors and/or other inaccuracies.

© 2022 Finvi. All rights reserved. Information contained in this document is subject to change. Reproduction of this publication is not permitted without the express permission of Finvi.

Rozanne Andersen

Rozanne Andersen

Rozanne Andersen serves as Finvi's Vice President and Chief Compliance Officer. She is a licensed attorney and a 30+ year veteran and advocate of the banking, credit, and collection industry. She holds Chief Compliance Officer certifications from both ACA International and RMAI International. In 2020, Andersen received an international Compliance Officer of the Year award from Women in Compliance. Prior to joining Finvi, Andersen served as former general counsel, director of government affairs, and CEO of ACA International. Since 2011, she has led Finvi's regulatory compliance efforts to ensure compliance solutions are embedded in the company’s software, contact management, payment processing, and cloud solutions. Finvi is widely recognized as a leading software provider to the collection, healthcare, debt buyer and Federal, state, and local government markets.

Clarifying Misunderstandings Around Payment Fees

The Consumer Financial Protection Bureau released an Advisory Opinion to help clarify what fees third parties...

Learn More

Accelerated Receivables Solutions Doubles Yield Per Account Using Finvi’s Advanced Segmentation

In his new role as Director of Business Intelligence at Accelerated Receivables Solutions (ARS), Jason Thompson…

Learn More

Better Together: Adding Payments Into Debt Collection

In an era when organizations are struggling to retain employees and properly manage remote workers, it...

Learn More