Margot Saunders, senior attorney at the National Consumer Law Center testified on behalf of our low income clients, as well as the Consumer Federation of America, Consumers Union, and the U.S. Public Interest Research Group regarding rent to own contracts and whether H.R. 1588 is the appropriate vehicle for federal regulation.
The topic of this hearing is whether there is a potential role for federal regulation of rent-to-own transactions. We think there is. There is much that could be done to protect consumers who enter into rent-to-own transactions from the worst practices of this industry. However, H.R. 1588 does not add any meaningful protections for consumers in rent-to-own transactions.
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