S.1012 - Consumer Rental-Purchase Agreement Act of 2007

A bill 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: A bill 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 of 2007 as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 1
  • Past Seven Days: 1
  • All-Time: 5,263
 
Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
03/28/07
 
 
 
 
 
 
 

Official Summary

Consumer Rental-Purchase Agreement Act of 2007 - 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 confession

Official Summary

Consumer Rental-Purchase Agreement Act of 2007 - 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.

...Read the Rest




Vote on This Bill

-% Users Support Bill

0 in favor / 0 opposed
 

Send Your Senator a Letter

about this bill Support Oppose Tracking
Track with MyOC