Consumer Rental Purchase Agreement Act of 2002

Summary

Consumer Rental Purchase Agreement Act of 2002 - 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. 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. Provides for Federal and State enforcement of this Act.

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Timeline

1. 17 September 2002

   Introduced

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

   Source: IntroReferral

2. 17 September 2002

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

• Introduced in Senate · 17 September 2002 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 September 2002

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 September 2002

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 17 September 2002

  Open at official source

Sponsors

• Sen. Landrieu, Mary L. [D-LA] · D · Sponsor
• Sen. Hutchison, Kay Bailey [R-TX] · R · Sponsor
• Sen. Miller, Zell [D-GA] · D · Sponsor
• Rep. Bunning, Jim [R-KY-4] · R · Sponsor
• Sen. Cleland, Max [D-GA] · D · Sponsor
• Rep. Breaux, John B. [D-LA-7] · D · Sponsor
• Sen. Shelby, Richard C. [D-AL] · R · Sponsor
• Sen. Lincoln, Blanche L. [D-AR] · D · Sponsor
• Sen. Conrad, Kent [D-ND] · D · Sponsor
• · ssbk00 · Standing

Related records

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