Consumer Rental Purchase Agreement Act
Latest action · Jun 8, 2007 Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 29, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 99
Members who signed on, in the order they did. Signatures ran from Mar 29, 2007 to Sep 29, 2008, with 4 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Gregory W. Meeks | Original | Mar 29, 2007 |
| R-MO | Jo Ann Emerson | Original | Mar 29, 2007 |
| D-AR | Mike Ross | Original | Mar 29, 2007 |
| R-NC | Walter B. Jones | Original | Mar 29, 2007 |
| R-FL | Adam H. Putnam | Apr 19, 2007 | |
| D-FL | Alcee L. Hastings | Apr 19, 2007 | |
| D-CA | Brad Sherman | Apr 19, 2007 | |
| D-OR | Darlene Hooley | Apr 19, 2007 | |
| D-NC | David E. Price | Apr 19, 2007 | |
| D-KS | Dennis Moore | Apr 19, 2007 | |
| D-TX | Eddie Bernice Johnson | Apr 19, 2007 | |
| D-NY | Edolphus Towns | Apr 19, 2007 | |
| R-TX | Jeb Hensarling | Apr 19, 2007 | |
| R-MO | Kenny C. Hulshof | Apr 19, 2007 | |
| R-NE | Lee Terry | Apr 19, 2007 |
Actions 3
Everything that happened, newest first.
- Jun 8, 2007Referred to the Subcommittee on Financial Institutions and Consumer Credit.
- Mar 29, 2007Introduced in House
- Mar 29, 2007Referred to the House Committee on Financial Services.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1012 | Consumer Rental-Purchase Agreement Act of 2007 | Related bill | Mar 28, 2007 |
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
- Administrative procedure
- Advertising
- Business records
- Civil actions and liability
- Commerce
- Consumer credit
- Consumer education
- Consumer protection
- Contracts
- Crime and Law Enforcement
- Criminal liability
- Damages
- Deceptive advertising
- District courts
- Evidence (Law)
- Federal preemption
- Federal Reserve System
- Federal Trade Commission
- Fees
- Finance and Financial Sector
- Financial statements
- Fines (Penalties)
- Fraud
- Garnishment
- Government liability
- Government Operations and Politics
- Government paperwork
- Independent regulatory commissions
- Injunctions
- Insurance premiums
- Labeling
- Labor and Employment
- Law
- Lease and rental services
- Leases
- Liability (Law)
- Liability insurance
- Limitation of actions
- Maintenance and repair
- Negotiable instruments
- Parties to actions
- Prices
- Property insurance
- Rent
- Restrictive trade practices
- Small business
- State laws
- Surety and fidelity
- Taxation
- Warranties
Text 1
Each version as it was printed, newest first.
- Mar 29, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.