US Congress House Bill 1551 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 48-18)
Status: Introduced on April 15 2013 - 25% progression, died in committee
Action: 2013-04-15 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

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 (FTC) and to state attorneys general. Subjects to criminal penalties any willful and knowing violation of the information disclosure requirements of this Act.

Consumer Rental Purchase Agreement Act

Rep. Gregory Meeks [D-NY]	Rep. Garland Barr [R-KY]	Rep. Diane Black [R-TN]	Sen. Marsha Blackburn [R-TN]
Rep. G. Butterfield [D-NC]	Rep. Bradley Byrne [R-AL]	Rep. Kathy Castor [D-FL]	Rep. Donna Christensen [D-VI]
Rep. Lacy Clay [D-MO]	Rep. Michael Conaway [R-TX]	Sen. Tom Cotton [R-AR]	Rep. Eric Crawford [R-AR]
Rep. Danny Davis [D-IL]	Rep. Rodney Davis [R-IL]	Rep. Scott DesJarlais [R-TN]	Rep. John Duncan [R-TN]
Rep. William Enyart [D-IL]	Rep. Blake Farenthold [R-TX]	Rep. Stephen Fincher [R-TN]	Rep. Charles Fleischmann [R-TN]
Rep. Randy Forbes [R-VA]	Rep. Phil Gingrey [R-GA]	Rep. Sam Graves [R-MO]	Rep. Tom Graves [R-GA]
Rep. Tim Griffin [R-AR]	Rep. Brett Guthrie [R-KY]	Rep. Ralph Hall [R-TX]	Rep. Vicky Hartzler [R-MO]
Rep. Alcee Hastings [D-FL]	Rep. Robert Hurt [R-VA]	Rep. Lynn Jenkins [R-KS]	Rep. Eddie Johnson [D-TX]
Rep. Sam Johnson [R-TX]	Rep. Walter Jones [R-NC]	Rep. Jim Jordan [R-OH]	Rep. Jack Kingston [R-GA]
Rep. Adam Kinzinger [R-IL]	Rep. Ann Kuster [D-NH]	Rep. Blaine Luetkemeyer [R-MO]	Rep. Mike McIntyre [D-NC]
Rep. Richard Nugent [R-FL]	Rep. Pete Olson [R-TX]	Rep. Steven Palazzo [R-MS]	Rep. Ed Perlmutter [D-CO]
Rep. Mike Pompeo [R-KS]	Rep. Charles Rangel [D-NY]	Rep. Scott Rigell [R-VA]	Rep. Bobby Rush [D-IL]
Rep. Aaron Schock [R-IL]	Rep. Austin Scott [R-GA]	Rep. David Scott [D-GA]	Rep. Pete Sessions [R-TX]
Rep. Terri Sewell [D-AL]	Rep. Bill Shuster [R-PA]	Rep. Jason Smith [R-MO]	Rep. Lamar Smith [R-TX]
Rep. Steve Stivers [R-OH]	Rep. Mark Takano [D-CA]	Rep. Patrick Tiberi [R-OH]	Rep. Michael Turner [R-OH]
Rep. Ann Wagner [R-MO]	Rep. Lynn Westmoreland [R-GA]	Rep. Ed Whitfield [R-KY]	Rep. Frederica Wilson [D-FL]
Rep. Robert Wittman [R-VA]	Rep. Steve Womack [R-AR]

Date	Chamber	Action
2013-04-15	House	Referred to the House Committee on Financial Services.

SB1208 (Related) 2013-06-20 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/1551/all-info
Text	https://www.congress.gov/113/bills/hr1551/BILLS-113hr1551ih.pdf