CDRI Plays Critical Role in Passage of Legislation Regulating Debt Settlement Providers in California

WASHINGTON, Oct. 8, 2021 /PRNewswire-PRWeb/ -- Consumer Debt Relief Initiative (CDRI) received praise for taking a central role in the passage of California Assembly Bill 1405, which was signed into law this week by California Governor Gavin Newsom.

After collaborating with AB1405's sponsor and bringing together a powerful coalition in opposition to the initial framework, CDRI was able to work closely with the bill's author, as well as other key legislators and committees, to remove specific provisions that threatened the industry's ability to operate in the state. These efforts were instrumental in revising the legislation to effectively regulate the industry, protect consumers and ensure those recovering from financial hardship have full access to debt settlement services and the benefits they can provide.

"The CDRI team led the charge in California to protect consumers and ensure all communities have equal access to debt settlement services," said Willie Brown, former Assembly Speaker and Mayor of San Francisco. "Furthermore, in a short time, CDRI has emerged as the preeminent voice for the industry and the consumers they serve."

"Latino families are the backbone of California's workforce and valuable contributors to our state's economy and society," said Nestor Valencia, former Mayor of The City of Bell, Calif. "CDRI's important and effective work in California to protect debt settlement as an option has made sure these households have access to these services to pay off pandemic-induced debt."

"Small businesses are the heartbeat of local communities, and CDRI has protected many small business owners in California by ensuring they can use debt settlement services to recover from challenges of the pandemic," noted a statement issued by Retailers & Store Owners United to Rebuild Communities Economies.

Media Contact

Cliff Andrews, Consumer Debt Relief Initiative, +1 202.577.5467, [email protected]

SOURCE Consumer Debt Relief Initiative