MADISON, Wis. (AP) - The Legislature's Joint Finance Committee is poised to consider provisions in Gov. Scott Walker's executive budget that would exempt rent-to-own stores from Wisconsin's consumer protection laws.
Rent-to-own businesses offer customers a chance to rent items such as appliances and electronics with no credit check. Customers can exit and rejoin the deals as they wish with an option to buy the items when they complete their contracts.
Critics contend the businesses charge exorbitant interest rates and prey on the needy. But industry advocates counter the contracts aren't credit transactions and shouldn't be subject to the state's consumer protection laws.
Walker's budget would create a new section of law governing rent-to-own that wouldn't require the businesses to disclose interest rates.
The finance committee is expected to review the provisions Thursday.
- Walker hopes federal government shutdown can be avoided
- Baldwin encourages Perdue to visit Wisconsin dairy farmers
- Bills to fight homelessness in Wisconsin up for vote
- Proposal would allow homemade baked goods sales in Wisconsin
- Wisconsin dairy farms face closure due to Canadian policies
- Walker says he has 'no interest' in higher vehicle fees
- CSAs connecting fresh produce to consumers
- La Crosse 12-year-old to clean up skate park with community help
- Thousands honored in La Crosse for volunteering
- Mom who made kids sleep in feces-covered room gets probation