U.S. Congress - H.R.1744 Consumer Rental Purchase Agreement Act
H.R.1744 - Consumer Rental Purchase Agreement Act
To amend the Consumer Credit Protection Act to assure meaningful disclosures of the terms of rental-purchase agreements, including disclosures of all costs to consumers under such agreements, to provide certain substantive rights to consumers under such agreements, and for other purposes. view all titles (2)
All Bill Titles
- Official: To amend the Consumer Credit Protection Act to assure meaningful disclosures of the terms of rental-purchase agreements, including disclosures of all costs to consumers under such agreements, to provide certain substantive rights to consumers under such agreements, and for other purposes. as introduced.
- Short: Consumer Rental Purchase Agreement Act as introduced.
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Official Summary
3/26/2009--Introduced.Consumer Rental Purchase Agreement Act - Amends the Consumer Credit Protection Act to prescribe consumer protection guidelines for rental-purchase transactions, including: (1) the determination of rental-purchase cost; (2) disclosure requirements; (3) prohibitions agaOfficial Summary
3/26/2009--Introduced.Consumer Rental Purchase Agreement Act - Amends the Consumer Credit Protection Act to prescribe consumer protection guidelines for rental-purchase transactions, including:(1) the determination of rental-purchase cost;
(2) disclosure requirements;
(3) prohibitions against confessions of judgment, wage assignments, and waiver of consumer claims or defenses;
(4) furnishing of statements of account;
(5) point-of-rental disclosures; and
(6) rental-purchase advertising disclosures. Declares that an action for civil liability may be brought against a merchant's assignee only if the violation is apparent on the face of a rental-purchase agreement to which it relates, including, but not limited to, a disclosure that can be determined to be incomplete or inaccurate from the face of the agreement. Authorizes the Board of Governors of the Federal Reserve System to promulgate implementing regulations. Grants enforcement powers to the Federal Trade Commission and to state attorneys general. Subjects to criminal penalties any willful and knowing violation of the information disclosure requirements of this Act.
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Recent News Coverage
Text of Rental Purchase Act Released
A real-time PDF version of the complete congressional database - with HR 1744 cosponsors identified - can be created with a single click. ...
APRO RTO Headquarters
US Congressman William Lacy Clay (D-MO) today introduced HR 1744, The Consumer Rental Purchase Agreement Act, on the House floor with a record 41 original ...
APRO RTO Headquarters
Dealers learned during the meeting that progressive rent-to-own legislation HR 1744 -- The Consumer Rental Purchase Agreement Act -- was introduced today by ...
Recent Blog Coverage
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View Top Rated
Rent To Own Statutes Affecting Your Business | ALBERTAM
This Consumer Rental Purchase Agreement Act of 2009 (H.R. 1744) is a regulatory bill which defines rent to own transactions as a lease. This act requires full disclosure of consumer pricing, disclosure of advertising, and reinstatement ...
Rent To Own Statutes Affecting Your Business | Property Commercial ...
This Consumer Rental Purchase Agreement Act of 2009 (H.R. 1744) is a regulatory bill which defines rent to own transactions as a lease. This act requires full disclosure of consumer pricing, disclosure of advertising, and reinstatement ...
Middle Class & Mad as Hell: Clay Willing to Go the Distance - For ...
The RTO is now trying to claim that the bill Clay is sponsoring, HR 1744, which I detailed HERE, is a "jobs" bill. The president of the RTO industry group APRO is claiming that if this bill passes, there will be rapid expansion of the ...
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