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Rent-to-own stores blamed for hidden high rates and mislabeling
A liberal consumer group accused rent-to-own shops of charging average annual rates near 100 percent with no disclosure and many items not clearly marked. The study cited 124 stores, 59 with rates over 100 percent, and contrasted with credit card costs. Industry officials disputed the findings, saying prices reflect operating costs and customers may return items. most leases run three months or less.
MENTIONED IN THIS ARTICLE
Washington
Henry Gonzalez
Texas
House Banking Committee
Gonzalez
U.S. Public Interest Research Group
Mierzwinski
Bill Reese
Association of Progressive Rental Organizations
Keese