H.R.996 - Consumer Rental Purchase Agreement Act 108th Congress (2003-2004)
|Sponsor:||Rep. Jones, Walter B., Jr. [R-NC-3] (Introduced 02/27/2003)|
|Committees:||House - Financial Services|
|Latest Action:||House - 03/14/2003 Referred to the Subcommittee on Financial Institutions and Consumer Credit. (All Actions)|
This bill has the status Introduced
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Summary: H.R.996 — 108th Congress (2003-2004)All Information (Except Text)
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.
Introduced in House (02/27/2003)
Establishes civil and criminal liability for violations of this Act.
Grants enforcement powers to the Federal Trade Commission and to State attorneys general.