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Consumer Automobile Leasing Act of 1996

Introduced: May 22, 1996 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 31, 1996
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
May 23, 1996
Sponsor introductory remarks on measure. (CR E885-887)
May 22, 1996
Referred to the House Committee on Banking and Financial Services.
May 22, 1996
Introduced in House
 Plain-English summary Congressional Research Service

Consumer Automobile Leasing Act of 1996 - Amends the Consumer Credit Protection Act (CCPA) to include in the definition of "consumer lease" contracts not exceeding $50,000 (currently, not exceeding $25,000).

Modifies requirements regarding consumer lease disclosures and advertising and imposes new requirements applicable to automobile lease disclosures and advertising.

Prohibits any stipulation, provision, or term of any lease from waiving a lessor's liability or depriving a lessee of any right or benefit under Federal or State law.

Amends the Truth in Lending Act (title I of the CCPA) to limit the total civil liability for violation of any consumer lease provision requirement to $10,000.

Mandates model disclosure forms.

Requires a study and report to the Congress on the feasibility of instituting a procedure for standardizing the terms and costs of automobile leases similar to unit pricing for consumer perishable goods.

What's happening now May 31, 1996

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 2