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United States · Bill · HR

H.R. 1701 (107th)

Consumer Rental Purchase Agreement Act

referredUnited States· United States Congress· EN

Introduced

3 May 2001

Last action

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Status

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Consumer Rental Purchase Agreement Act - Amends the Consumer Credit Protection Act to prescribe guidelines for rental-purchase transactions, including: (1) the determination of rental-purchase cost; (2) disclosure requirements; (3) proscriptions 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. Authorizes the Board of Governors of the Federal Reserve System to promulgate implementing regulations. Provides for Federal and State enforcement of this Act.

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Documents

12 official files

Referred in Senate (text)

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Sources

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