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HR 2498 107th Congress House Commerce Administrative procedure Civil Rights and Liberties, Minority Issues Civil actions and liability Collection of accounts Consumer credit Consumer education Consumer protection Contracts Credit insurance Crime and Law Enforcement Damages Deceptive advertising Discrimination in consumer credit Federal Reserve System Federal preemption Fees Finance and Financial Sector Finance charges Fraud

Rent-To-Own Protection Act

Introduced: July 12, 2001 Introduced by: Waters, Maxine Democratic · California See on congress.gov
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 2001
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Jul 12, 2001
Referred to the House Committee on Financial Services.
Jul 12, 2001
Introduced in House
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 Plain-English summary Congressional Research Service
Rent-To-Own Reform Act of 2001 - Amends the Consumer Credit Protection Act to prohibit seller-imposed interest, finance charges, or other fees in a rent-to-own transaction that exceed maximum interest, fees, or finance charges that may be charged for a credit sale or retail installment sale for the same or similar item under the laws of the seller's State.

Prescribes guidelines for authorized seller termination charges.

Grants a rent-to-own transaction: (1) the same warranty and guaranty protections as apply to a consumer credit sale or retail installment sale; and (2) specified statutory protections under the Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Debt Collection Practices Act, and the Fair Credit Reporting Act..

Mandates specified seller disclosures on goods in a rent-to-own transaction, including payment terms. Prohibits specified seller practices. Grants the Federal Trade Commission enforcement powers.

Subjects a seller to civil liability to the consumer for violations of this Act.

What's happening now July 31, 2001

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Schakowsky, Janice D.
Illinois · Jul 24, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2498: Rent-To-Own Reform Act of 2001. 107th Congress. Open America. https://openamerica.io/bill/107-HR-2498/
MLA
"H.R. 2498: Rent-To-Own Reform Act of 2001." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-2498/.
Bluebook (legal)
H.R. 2498, 107th Cong. (2026), https://openamerica.io/bill/107-HR-2498/.
Markdown link
[H.R. 2498: Rent-To-Own Reform Act of 2001](https://openamerica.io/bill/107-HR-2498/)
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