RMAI Commends National Crackdown on the Collection of Phantom, Unsubstantiated Consumer Debt

SACRAMENTO, Calif. -- On Monday September 29, 2020, the Federal Trade Commission (FTC) along with State and Federal Law  Enforcement Partners announced, Operation Corrupt Collector, a nationwide law enforcement and  outreach initiative to protect consumers from phantom debt collection and abusive and threatening  debt collection practices. This crackdown encompasses more than 50 enforcement actions against debt  collectors brought by the FTC, three federal partners, and partners from 16 states. 

The Receivables Management Association International (RMAI) applauds the FTC and state and local  governments for their commitment to enforcing the law against companies who are blatantly breaking  the law to collect debts consumers do not owe or engaging in abusive and threatening practices. Illegal  activity by a few tarnishes the reputation of the thousands of debt buyers and debt collectors who work  with consumers every day in full compliance with the law to pay their just debts. RMAI thanks the FTC  and those state and local governments for their efforts to rid the industry of any bad actors and address  the complaints of consumers related to debts they either did not owe or abusive and threatening  collection practices.  

In addition to the enforcement actions, state and local consumer protection agencies across the country  are joining the FTC in rolling out new information to help consumers know their rights when it comes to  debt collection and what steps to take if they receive a call trying to collect on a debt that they do not  recognize. Click here to learn more about Operation Corrupt Collector. 

About RMAI

RMAI is the industry leader in setting standards for the debt buying and debt collection. Since 2013,  RMAI has held its membership to certification standards which equal or exceed the minimum required  to comply with the law. Treating consumers with dignity and respect, substantiating debt prior to  collection, and fostering support for an industry which is designed to complete the consumer credit  cycle are the underpinnings of its certification standards.