MADISON, Wis. (AP) - The Legislature's budget committee is set to decide whether to exempt rent-to-own stores from Wisconsin's consumer protection laws.
Rent-to-own businesses offer customers a chance to rent items without a credit check. Customers can exit and rejoin their contracts with an option to buy the items when they fulfill the terms.
Critics contend the businesses prey on the poor and charge exorbitant interest rates. Industry advocates maintain the contracts aren't credit transactions and shouldn't fall under the state's consumer protection laws.
Gov. Scott Walker's budget would create a new section of state law governing the industry. The new statutes wouldn't require the businesses to disclose interest rates.
The finance committee is expected to review Walker's proposal Thursday. The panel could approve the plan as is, modify it or delete it.
- Local program helps entrepreneurs succeed
- UPDATE: Officer won't be charged in Holmen shooting
- Low unemployment creates 'employee market'
- The Latest: Judge won't drop charges against ex-UW student
- Baldwin supports pair of Trump nominees
- Onalaska mother, daughter charged with child neglect, animal mistreatment
- Assembly Republicans call for $300 million for roads
- New chronic wasting disease case found in central Minnesota
- Complaint leads to cross being removed from vets memorial
- Husband charged in connection to wife's death