CA AB2424

Replaces the term "buyer" with "consumer" throughout the Credit Services Act and requires credit services organizations to provide monthly statements detailing services performed and complete services within 180 days (increased from 6 months).

Extends the 5-day cancellation period to "before midnight on the fifth working day" and requires organizations to redact personal information in written communications to protect against fraud and identity theft.

Prohibits credit services organizations from submitting disputes more than 180 days after an account is removed from a consumer's credit report and requires them to provide sufficient information with their first written communication to credit reporting agencies for investigation.

Requires consumer credit reporting agencies, creditors, debt collectors, and debt buyers to communicate with credit services organizations representing a consumer, with limited exceptions.

Requires credit services organizations to maintain records on file for four years and establishes new state-mandated local program requirements related to expanded criminal penalties.