March 14, 2018
Predatory Rent-to-Own Bill Stalled
Milwaukee, WI – Today, Senator Chris Larson offered the following comments regarding the bipartisan rejection of Senate Bill 637:
“Today, a majority of the members of the Senate Committee on Agriculture, Small Business, and Tourism voted against a proposal that would eliminate consumer safeguards critical to protecting our neighbors from the predatory rent-to-own industry that plagues other states.
“This proposal would have invited into Wisconsin those that prey on our military families and neighbors that are struggling financially. It would allow shady business practices that trap consumers in debt, while also no longer prohibiting deceptive and harassing debt collection.
“The Wisconsin Consumer Protection Act works. This bill is like firing the babysitter, because there were no accidents. It is shortsighted and ignores the hazards of unleashing this industry onto our neighbors.”