US SB738 | 2009-2010 | 111th Congress
Status
Spectrum: Moderate Partisan Bill (Republican 16-5)
Status: Introduced on March 30 2009 - 25% progression, died in chamber
Action: 2009-03-30 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 30 2009 - 25% progression, died in chamber
Action: 2009-03-30 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Text: Latest bill text (Introduced) [PDF]
Summary
Consumer Rental-Purchase Agreement Act of 2009 - 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.
Title
Consumer Rental-Purchase Agreement Act of 2009
Sponsors
Sen. Christopher Bond [R-MO] | Sen. Sam Brownback [R-KS] | Sen. Jim Bunning [R-KY] | Sen. Richard Burr [R-NC] |
Sen. Saxby Chambliss [R-GA] | Sen. Thad Cochran [R-MS] | Sen. James Inhofe [R-OK] | Sen. Johnny Isakson [R-GA] |
Sen. Mike Johanns [R-NE] | Sen. Tim Johnson [D-SD] | Sen. Mary Landrieu [D-LA] | Sen. George LeMieux [R-FL] |
Sen. Blanche Lincoln [D-AR] | Sen. Benjamin Nelson [D-NE] | Sen. Pat Roberts [R-KS] | Sen. Jeff Sessions [R-AL] |
Sen. Olympia Snowe [R-ME] | Sen. Jon Tester [D-MT] | Sen. John Thune [R-SD] | Sen. David Vitter [R-LA] |
Sen. Roger Wicker [R-MS] |
History
Date | Chamber | Action |
---|---|---|
2009-03-30 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Same As/Similar To
HB1744 (Related) 2009-03-26 - Referred to the House Committee on Financial Services.
Subjects
Administrative law and regulatory procedures
Business records
Civil actions and liability
Consumer affairs
Consumer credit
Contracts and agency
Evidence and witnesses
Federal preemption
Federal Reserve System
Federal Trade Commission (FTC)
Finance and financial sector
Fraud offenses and financial crimes
Small business
Business records
Civil actions and liability
Consumer affairs
Consumer credit
Contracts and agency
Evidence and witnesses
Federal preemption
Federal Reserve System
Federal Trade Commission (FTC)
Finance and financial sector
Fraud offenses and financial crimes
Small business
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/111th-congress/senate-bill/738/all-info |
Text | https://www.congress.gov/111/bills/s738/BILLS-111s738is.pdf |