PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking.
Congressional Research Service
Version 00 · Introduced in Senate · Oct 19, 1993
Rent-To-Own Consumer Credit Protection Act of 1993 - Amends the Consumer Credit Protection Act to prohibit a seller in a rent-to-own transaction from taking, receiving, or assessing any interest, finance charge, or other fee for the transaction in excess of that which may be charged under State law which establishes in connection with a credit or retail installment sale for the same or a similar item: (1) a maximum rate or amount of interest, finance charge, or time-price differential that may be charged; (2) the types and maximum amount of fees that a seller may charge; or (3) the types of credit insurance and the maximum amount of premiums that can be charged for credit insurance. Sets forth requirements regarding: (1) termination, recovery, and other fees; (2) the effect of termination; and (3) guarantees and warranties. Makes the following Federal laws applicable to rent-to-own transactions: (1) the Truth in Lending Act; (2) the Equal Credit Opportunity Act; (3) the Fair Debt Collection Practices Act; and (4) the Fair Credit Reporting Act. Requires a seller to include the following information on each item in the seller's place of business that is available for purchase pursuant to a rent-to-own transaction: (1) the cash price; (2) an itemization of services offered and the price of each service; (3) the annual percentage rate; (4) any applicable periodic payment and the number of payments; (5) the total number of payments required to acquire ownership; and (6) whether the item is new or used. Requires a seller to provide such information to a consumer in writing at the time the parties enter into the contract. Prohibits a seller under a rent-to-own contract with a consumer from taking specified actions, such as using threats or coercion to collect amounts alleged due, or unreasonably disclosing information to third parties regarding amounts owed by the consumer. Makes compliance with the requirements of this Act enforceable by the Federal Trade Commission. Deems a violation of this Act to be an unfair or deceptive act or practice in violation of the Federal Trade Commission Act. Subjects sellers who violate the requirements of this Act to civil liability.
People & committees
Sen. Metzenbaum, Howard M. [D-OH] · D–OH
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Banking.
Sponsor introductory remarks on measure. (CR S13909-13915)
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze S.1566 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine S.1566 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine S.1566 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine S.1566 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.