Terry Moulton

GOP resurrects bill exempting rent-to-own from consumer act

Wisconsin Republicans are trying again to exempt rent-to-own businesses from the state's consumer protection act.

Rep. Warren Petryk and Sen. Terry Moulton began circulating a bill for co-sponsors Tuesday that would create a new section of statutes specifically for the rent-to-own industry.

Under the new provisions, rental-purchase agreements must disclose in eight- or 10-point type the cash price of the property and the total dollar amount of payments needed to acquire ownership. The consumer protection act currently requires rent-to-own companies to disclose their interest rates. The new statutes wouldn't require companies to divulge their rates, although they would have...