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<BillSummaries>
<item congress="113" measure-type="hr" measure-number="1551" measure-id="id113hr1551" originChamber="HOUSE" orig-publish-date="2013-04-15" update-date="2013-05-10">
<title>Consumer Rental Purchase Agreement Act</title>
<summary summary-id="id113hr1551v00" currentChamber="HOUSE" update-date="2013-05-10">
<action-date>2013-04-15</action-date>
<action-desc>Introduced in House</action-desc>
<summary-text><![CDATA[<p> 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.</p> <p>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. </p> <p>Authorizes the Board of Governors of the Federal Reserve System to promulgate implementing regulations. </p> <p>Grants enforcement powers to the Federal Trade Commission (FTC) and to state attorneys general. </p> <p>Subjects to criminal penalties any willful and knowing violation of the information disclosure requirements of this Act.</p>]]></summary-text>
</summary>
</item>
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<dc:language>EN</dc:language>
<dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
<dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
<dc:description>This file contains bill summaries for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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