Tune in for a chat with Mike Becker, the new Executive Director of Receivables Management Association International. Mike talks about participation in the advocacy and education process in Washington D.C., building relationships with legislators and regulators, empowering organizations, RMAI certification, the upcoming national election, the importance of membership engagement in #RMAI, and more. Learn more with this week’s #ReceivablesPodcast, hosted by Adam Parks!
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Adam Parks (00:01.782)
Hello everybody, Adam Parks here with another episode of Receivables Podcast. Today I'm here with another fantastic guest, Mr. Mike Becker, the new executive director for RMAI. I've had the opportunity to get to know him a little bit at the shows, wanted you all to have that same opportunity. Mike, thank you for coming on today. I really do appreciate you coming on and having a discussion with me.
Mike Becker, RMAI (00:26.855)
It's my pleasure, I've been looking forward to it.
Adam Parks (00:29.74)
So anybody who has not been as lucky as me to get to know you at some of these shows over the past couple of months, can you tell everyone a little bit about yourself and how you got to the seat that you're in today?
Mike Becker, RMAI (00:39.884)
Sure. So I am a DC native of the area here in the capital city and had a political path chosen out that didn't work out because I worked for a member of Congress who voters at one point in time in a previous election had a different opinion and made the switch about 20 years ago to the association rule and representing over the past 20 years really different business interests from pharmaceutical to
specifically non -prescription medicines where we represented that industry before federal lawmakers. I spent 17 years in a trade group, a nonprofit association for insurance, the insurance industry, specifically insurance agencies, and the independent distribution channels. So some of those members were real small, family -run businesses, and some of them were publicly traded companies, and just about everything in between. And about 11 years as CEO of
National Association and joined Arm AI as executive director earlier this year. And that's been a great start so far. And I've had a blast getting to know you and so many others in the industry and most certainly our members of the team that we have.
Adam Parks (01:53.686)
Well, you did come into a fantastic team, a great board and a great membership. I say that as a past president of the association, having just rolled off the board as you were coming on. So it's been really a great opportunity to see such a great fit into the organization. Clearly, your background is right on point with what the association needs for the future. Now, can you for anybody who is living under a rock, can you tell everyone a little bit about our may I and what the organization does?
Mike Becker, RMAI (02:22.572)
Of course. So our members are primarily debt buyers, but we also have many wonderful members that are collection agencies, law firms, affiliate members that are businesses that really support the industry. And really we're their voice. We're their voice in Washington and in state capitals across the country, representing them in front of legislators and regulators. really our goal is to really not only communicate the important value that
This industry plays in the larger financial services industry, but it's to go to bat for our members and make sure that they have a strong voice, they have a strong advocate. It's to minimize the challenges that they're facing on a daily basis. So we do that through not only strong advocacy for our debt buyer, debt collection agency, or attorney or affiliate members, but we also do that through bringing in really strong education, networking events, specifically our annual conference, our executive summit that we have.
each summer as well. And I think one of the most powerful things about the association is our certification program, which it's going through its 13th revision right now, actually. And it's really a set of standards and a certification that just, when I came on board, I'll put it this way, it kind of blew me away in how it really raises the bar and the professionalism.
the industry and it's been a great tool I think for our members to better themselves. Great output in that it's been shown to reduce the litigation that our certified members are facing. It's less than the non -certified part of the industry. And it's also a great tool for us to talk to legislators and regulators about. So RMAI has been a wonderful organization serving its members and that's what we're out to do every single day.
Adam Parks (04:14.284)
But I think from a certification program standpoint, that third party validation of the certifications of the individual organizations is what gave it the teeth that enabled the CFPB and other regulators around the country at the state level to mention it when they're talking about rulemaking, right? To actually leverage some of the certification standards that exist from RMAI when they're thinking about rulemaking or legislative efforts across the country.
It's been an organization I've been very proud to participate in for almost the last 20 years now. Not to date myself too much here, but you know, one of the biggest challenges that we've always seen as an association is educating and building relationships in DC. And that has always been such a big challenge. And I think the certification program was a great step in the right direction towards starting to lubricate those opportunities for relationships.
I also think that there's some other things that RMAI has done that kind of opened up those opportunities as well. The rebranding, for example, from the debt buyers association to the receivables management association to really enable the opportunity to communicate the message, right? Because when you say I'm a debt buyer, you get one response. you say I'm a receivables management profession, you get a little bit of a different response.
So now that we've got somebody who's actually located in DC and, you know, boots on the ground for their entire career and really their entire life, you know, what kind of insights in relationship building do you expect to see over the next, call it, couple years?
Mike Becker, RMAI (05:52.79)
Well, you're right. DC is a city that I know like the back of my hand and I love it. It's very unique. It's very different lobbying and interacting with congressional legislators or federal regulators when compared to interacting at the state level. And I've been fortunate to spend, as you noted, my whole career doing that. And I think what's great and excites me from the Army I standpoint is I
prior to previous 17 years in financial services. So in many ways on the legislative front, it's the same folks. It's the same committees. It's the same members of Congress and staff that I've dealt with for years and years. And I'll be able to bring those and have been able to bring those relationships to RMAI and the conversations that we've been part of. I also think financial services, it's one of the biggest lobbies in Washington. And I think it's
Adam Parks (06:28.62)
Good point.
Mike Becker, RMAI (06:50.942)
It has been and will continue to be really important. And I'll be able to take advantage of it and fully intend to, to be part of the more regular ongoing conversations and relationships that take place in the city here. And I'm excited about that. Now, the other huge piece of the pie here, by the way, is the Army I staff and they, some reception have been in California. So.
Mike Becker, RMAI (07:18.312)
That's a big piece of the puzzle. So I've earned my airline miles and will continue to do so going back to spend as much time as I can in Sacramento with a really phenomenal team out there. But you're right. When I'm not in California, I'm in Washington, making sure that I'm engaging, be it with other financial services organizations, be it lobbyists or regulators or legislators and so forth to make sure that we're really regularly having a seat at the table.
Adam Parks (07:46.22)
Well, was interesting when we had the opportunity to present together at the TransUnion Summit just a couple of weeks ago in Utah. And it was kind of the first time I've always known, you know, kind of the three main trade associations working together, RMAI, ACA, and NCBA, but then starting to hear from others like Dan Smith at CDIA and how a lot of the same things or a lot of the same challenges are being faced, whether it be related to medical debt collection, credit reporting, or other things that become hot.
targets in Washington and people trying to push those specific topics forward for one reason or another. But it sounds like being in DC provides you with those opportunities not only to be interacting with others that are representing in the receivables management space, but also from the creditors perspective. Because often the creditors, right, from a bank's perspective, we're a byproduct of their business, right?
But I always think about it from the Rockefeller standpoint, right? Kerosene was the largest income for Standard Oil and that was a byproduct of the oil refining. And so we may be a byproduct of the overall banking industry, but our ability to educate those creditors, especially, could use FinTech as an example. When FinTech first started coming to market, it required the debt buyers and the agencies to educate those creditors. And it feels like you're in a prime position to...
participate in that education process where you based.
Mike Becker, RMAI (09:12.66)
Yeah, I think that's one of the things that has been, know, don't know, eye -opening is a big term. I'm not sure that's the right term, but I think trying to understand the narrative and really the industry has a good story to tell and it's never told, right? Because the other side, know, one of the terms I've heard many times, I've only been
Mike Becker, RMAI (09:41.664)
been in this industry for a months, the of wild west days, to speak. Those stories carry the day. this this industry. The story, that story sells well on both sides of the aisle, right? So it's told a lot. And I think that is an area that the entire industry and something that Army Eye were really looking at.
Mike Becker, RMAI (10:09.12)
really has an opportunity to start to turn the page, right? It's not something you do overnight. It's a long -term play. But if we have the opportunity, and frankly we do, to get in with the legislators, to get in with the regulators and tell the importance of the industry and how it fits in to the larger financial services landscape, I that's really important. if it's told, I'm not sure it's being told loud enough. And we want to make sure that we're amplifying the story.
Adam Parks (10:35.692)
Yeah
Mike Becker, RMAI (10:38.732)
We spend a lot of time legislatively and from a regulatory standpoint, really on the defense. And if we can spend our time, and it's something that I'm going to invest a lot of my time into, into building relationships here in the city and making sure that we're minimizing some of the noise around the industry and playing up the important piece that we play in the larger landscape. There's a real opportunity there.
Mike Becker, RMAI (11:05.732)
And we're to do everything we can to capitalize on that storytelling to make sure that there's a better understanding of the bigger picture and what we do to support that.
Adam Parks (11:14.08)
Yeah. Well, in addition to what RMAI does, I think it's also the responsibility of the organization members to actively participate in telling that story. And I can tell you when I first started a marketing company in this space, getting collectors to talk about themselves in the community was almost impossible. Right. It's there's a lot of collectors in the community. And I have yet to meet a debt buyer, collection agency or law firm that is not actively involved in their community, not just from a perspective of providing jobs.
Mike Becker, RMAI (11:27.443)
Thank
Adam Parks (11:42.518)
but are actively out there volunteering their time, money, and energy, right, their resources in order to support the local communities in which they live. But nobody wanted to tell the story because nobody wanted the CNN target painted on their back. And I think when you talk about the difference in the messaging, it's really that, you know, that message is sexy and our message is small, right? That's why I literally started this podcast was to provide the industry with an opportunity to start to tell some of these stories and have these discussions in an open.
because there was very few places where we could do this in a public setting. Right, we definitely can't do it on CNN, we can't do it on ABC, like that's not realistic for our industry because we don't make sexy headlines. Collectors in the community is not an exciting, gonna sell newspapers or TV ads kind of storyline. However, I think it's the reality of the situation because we're employing millions of people across the United States as organizations.
and we're actively involved in the community. So let this be my call to the audience to say, when you're out there in the community and you're actively participating, take some pictures, send them to RMAI. Empower your organization to help tell the story of the industry by empowering them with some of the storylines that are ultimately needed. Sorry, that's my, I'll get off my soap box there for a minute, but.
Mike Becker, RMAI (13:00.364)
Yeah.
Well, I'll give you a different flavor on that is when we interact and I've spent 20 plus years in federal politics and 20 years lobbying though. And when, you know, I've said this for years, when you, if you were to describe what a lobbyist does in one word, I would use the word educate. Cause that's what we're doing is we should be as lobbyists, you know, the resident expert on a particular topic and
When you're elected to an office, albeit in this case, a federal congressional seat, a House or a member Congress on the House representatives or Senate, let alone a state seat, you're really expected to be an expert on all things on day one. You have your voters calling you on all different topics. And that I think is where the value of lobbying comes in. And we're fortunate.
Mike Becker, RMAI (13:59.98)
an RMAI to also have K &L Gates right here in the city, our lobbying firm, which is a well established, incredibly reputable firm that we partner with here in the city. But I think, you know, that's really our role is to go and to educate these members of Congress and the FUGES relationship. So they aren't making decisions in a box. And that sometimes is what happens. And that's what you hear about on the news. You know, they're voting on a bill that's 600 pages and no one's read it. And we want to be, you know,
Mike Becker, RMAI (14:29.854)
well before it gets to that point, part of the conversation. You don't always want to be starting the conversation, but if there's a conversation being had, you want to make sure that you have a seat at the table. And that's where I think this narrative and this storytelling is really important to make sure that we're just doing the proper due diligence in terms of representing the industry here in Washington and really all over the country to make sure that they have a true understanding of how this industry functions.
Adam Parks (14:58.508)
Well, I think the unintended consequences of the actions that are taken are kind of the biggest problem that we face in those discussions. And the reason that that education is so infinitely important, because as an example, reducing the statute of limitations, know, reducing that time period for a debt buyer requires me to move out and litigate faster than I might have otherwise done, because it's the only way that I can defend my own rights. It's not it's not something that I think debt buyers
want to do, at least not in my experience as a buyer, but it's something that we end up getting forced into doing because the legislators that put that in place did not understand the consequences of the actions that they were putting in motion.
Mike Becker, RMAI (15:43.084)
That is so true. And how many proposals or outcomes from rulemaking or legislation have you seen that the intent of, it the regulator or the legislator, was to protect the consumer, to stand up to this industry. And the end result is they made the decision in a box and it's harmful to the consumer. And no one wins in that scenario. And those are scenarios that you want to avoid as best you can.
certainly to represent the industry well and strong, but to make sure that there's no unintended consequences if that's possible.
Adam Parks (16:21.11)
Well, the reality is if you know, looking from a lender's perspective, if I can't collect money, there's only two things I can do to offset my risk. I can raise the interest rate or I can reduce the availability of credit. Reducing the availability of credit is a lot harder to measure, but then you start seeing interest rate caps in various states in this mismatch of what the states are doing compared to the federal government creating this very complex web that needs to be complied with by all of the individual organizations, which I think creates this
Very difficult challenge. It's been my experience for the last 20 years at RMAI has done a fantastic job of organizing both those state efforts from an education standpoint. And in the time that I was really actively involved, called the last 10 years, I saw a number of times where the relationships that were built prior to a bill coming to pass or coming to the forefront allowed RMAI to establish itself as an organization of truth.
and to be able to provide that type of education and information to the regulator or legislator and to actually be heard. Right? It's one thing if you're just shouting all the time, but I think having some of those relationships and being provided a seat at the table and I think certification has done a fantastic job at that and honestly the efforts of the members themselves, right? Actively getting out there, participating in.
lobby days in Capitol Hill kind of activities over time, think is really positioned the organization quite well for the future. But since we're talking about DC and there's an election coming up in about two, three weeks here, know, what are you hearing anything on the street at the coffee shop? Any insights you can share with us?
Mike Becker, RMAI (18:02.846)
Well, I don't have a crystal ball and anyone that tells you that they do is pulling your leg. It is as uncertain here as it is anywhere else in the country. And, you know, I think the general agreement and I hope I'm not setting myself up for embarrassment first week in November here is that we'll have a split Congress more than likely in the House and the Senate. That seems to be the most likely outcome. But hey,
Crazier things have happened. Some of the things that we're looking at is if former President Trump wins, most certainly, Director Chopra will be out, as will all the other head of the administration or the bureaus or agencies. So Chopra would be out of CFPB if former President Trump wins.
Interestingly enough, I think if he wins, I think you'll see some of the states more so the left leaning or left, you know, Democratic governor states may ramp up their efforts in light of maybe a perceived dismantling of the CFPB might see some of the Democratic states ramp up their efforts. If Vice President Harris were to win, I think I would tell you that, you know, it may or may not be Chopra. Chopra would have to get
Mike Becker, RMAI (19:27.702)
kind of reappointed to that role and the question is a process for that. It's possible that he pursues another role and it doesn't matter if who wins the White House, we might have a new director of the CFPB. That's unknown of course, there's a lot of speculation on that. But that's I think in part, know, Director Chopra would have a decision in that. Does he want to pursue CFPB or does he want to try for something else? So that I think will have some uncertainty or do have some uncertainty with what CFPB will look at.
Mike Becker, RMAI (19:57.162)
Now I'll throw one more bit of information in which is if President Trump or former President Trump wins, we're more likely to see, and of course it depends on the makeup of Congress, but what's called a Congressional Review Act, know, a of activities around the CRA. The CRA and the Congressional Review Act is, it's a law that enables basically a look back.
Mike Becker, RMAI (20:26.932)
of more recent activities out of the regulatory bodies. So in other words, if Trump wins, depending on the makeup of Congress, we'd likely see Congress try to pass a bill that would require a look back or maybe they could overturn some of the regulations that they've seen. does require the president to sign it. So there's a lot of kind of ifs or buts or how could you do that, but there is an avenue.
Mike Becker, RMAI (20:56.788)
to have a look back period on the more recent regulations. So that's another thing to look for, but as it sits now, there's still an eternity left in the election season.
Adam Parks (21:13.474)
So I don't disagree with that statement. I'm curious to see the effect of student loans. And I've done a couple of episodes recently with Dan Simmons with TransUnion talking specifically about what those effects to the consumers are bringing back. The average loan payments in the $400 range is ultimately going to mean for the consumers. And for those watching, should Trump get elected, I don't expect that he's going in to dismantle the CFPB. He didn't do it last time around. I don't expect that he's going to do it this time around. But maybe honing them into actually within their
within their actual range of oversight might be nice. Seeing them follow the direction of Congress, I think, would also be a positive thing. But I wouldn't expect to see that from Chopra or really anybody else that Harris were to appoint in the future. But that's just my personal opinion. And I think most people kind of know, at least anybody watching this pretty much knows where I stand. So take that for what it's worth. One other thing that I wanted to talk to you about while I have you on camera here today.
Mike Becker, RMAI (21:44.928)
right?
Adam Parks (22:11.682)
day is talking a little bit about getting involved with RMAI. And that's something that I've always pushed for through the years. I think it's absolutely imperative if you're going to be a member of an organization, if you're not going to actively participate in it, you are not getting as much out of your organizational membership as you can. But any advice for those that are watching that want to become more involved in 2025? Like, what's that path look like to become a more active member?
Mike Becker, RMAI (22:38.22)
Sure, so as you and I are sitting here now, it's fall of 2024 and I'll preface this by saying that associations like.
that they're nothing without our members. And how we thrive and how we can be most effective is through really powerful, strong engagement from our members. And it's kind of a little bit of, it takes everybody, right? So we want to have our members engaged. We want to hear from them. And as we gear up for 2025, there's no time like the present.
Mike Becker, RMAI (23:18.188)
to start that process, start a little bit of self -reflection of where, how you can contribute to the organization. If you haven't checked, you can check our website. We're continuously updating it for our annual conference, which is in February of 2025. So check the RMAI website for more information on that. attend the conference. You can reach out to me or anyone on our team, all of our contact information's on the website and ask about our committees.
really committees and working groups, by the way, that do everything from data privacy, digital communications, bankruptcy, industry research, of course, state legislation, federal legislation and regulation. The list goes on and it's really important that we have really engaged members on all of those committees and working groups. So the time, you know, 2025, you know, might still seem like it's a little bit away, but the
Mike Becker, RMAI (24:14.858)
The time is now to start thinking about that and to start becoming engaged, to register for conference, but to reach out to me or anyone on our team. The board of directors at RMAI, they're a fantastic group of individuals that would more than love to talk to you or members about how you can become engaged in their experience and their expectations. And they're also a great group for anyone listening that's not a member, to reach out to the board or the staff, of course, to talk about what's membership like and.
Mike Becker, RMAI (24:45.289)
What's the value proposition? And we'd love to engage with you on that, but there's really no time like the present and now's the time to really be thinking about that and how you can become part of our MAI and really engage in our process.
Adam Parks (24:59.074)
So I'm going to throw two more things there. One is to make myself a resource as well after serving 10 years on the board, 20 years as a member, happy to talk to anybody about the value that I see in my RMAI membership. And even though I'm no longer a debt buyer, why I'm still actively participating across the board with that organization, because I am quite proud of the work that it does. The other thing is on the website and as the website host, this is
one of my little tricks. There's a get involved tab at the top there. You can go there. You can take a look at the committees. You can take a look at the different opportunities to get involved with the association and start participating in new and interesting ways. If you're not participating in 2024,
Look at yourself in the mirror and ask yourself why? am I not getting involved? Why am I not here to support my own industry and my own career? One, it's been a great opportunity for me to network, get to know people and build some really great relationships. Some of my best friends are RMAI members and I met them through the annual conference, the executive summit. People hear me say it all the time. I go to the annual conference every year to do deals and I do my deals at the RMAI conference and then I go to the executive summit to continue to build those personal relationships through a safe.
a shared experience. I don't even like golf, but I go play golf every RMAI Executive Summit because it gives me an opportunity to spend a couple of hours with a couple of new people each and every year. And I walk out of that event with new friends each and every time. I now Mike, and thank you so much for putting me in a new group again this year because I made literally three new friends out of my foursome.
Mike Becker, RMAI (26:29.674)
You know, let me jump on that for a minute. I think that's what's really great about the Army Eye events is if you've never been and you're wondering, gosh, am I going to be lost in the sea of people or where do I go or how do I, know, start, both the annual conference and the executive summit really have so many networking opportunities. They both have golf. As Adam mentioned, the executive summit has a
great evenings that are out there on fire pits and they're really focused on the networking and connecting people. Same thing at annual conference. There are a lot of folks there, but there's first timer information, new member information and sessions. There's kind of engagement sessions on top of all of the education. So there's something for everybody, especially you if you've never been. So I would encourage everybody to.
Adam Parks (27:22.498)
Well, Mike, I really do appreciate you coming on and sharing your insights with me today. It's been absolutely great getting an opportunity to know you over the past couple of months. I can't wait to see what you've got cooked up with the board of directors and the RMAI crew for 2025. I look forward to seeing everybody at the annual conference and stay tuned for more information because I might just be lucky enough to get Mike to come back at least one more time to help me continue to create great content for a great industry.
Mike Becker, RMAI (27:23.446)
Thank
Adam Parks (27:50.55)
But Mike, thank you again for coming on and sharing your insights. We really do appreciate the opportunity to get to
Mike Becker, RMAI (27:55.89)
It is my pleasure. Thank you.
Adam Parks (27:58.228)
And for everybody watching, thank you so much for your time and attention today. We'll see you all again soon. Bye, everybody.
About Company
Receivables Management Association International is the nonprofit trade association that represents more than 600 companies that support the purchase, sale, and collection of performing and nonperforming receivables on the secondary market. RMAI member companies work in a variety of financial services fields, including debt buying, collection agencies, law firms, originating creditors, and industry-related product and service providers.
