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S 4037 109th Congress Senate 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: September 29, 2006 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 29, 2006
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 29, 2006
Introduced in Senate
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 Plain-English summary Congressional Research Service

Rent-To-Own Reform Act of 2006 - Amends the Consumer Credit Protection Act to prohibit a seller in a rent-to-own transaction from receiving or assessing any interest, finance charge, or other fee for the transaction that exceeds the interest, fees, or finance charges permissible under the laws of the state in which the seller is located which establish: (1) a maximum rate or amount of interest, finance charge, or time-price differential that may be charged in connection with a credit sale or retail installment sale for the same or a similar item; (2) the types of fees and the maximum amount of fees that a seller may so charge; or (3) the types of credit insurance and the maximum amount of premiums that can be charged for credit insurance in such a connection.

Permits certain additional termination charges and fees.

Cites federal laws which are applicable to a rent-to-own transaction.

Sets forth required disclosures, prohibitions, and enforcement, as well as civil liability for failure to properly disclose the terms of a rent-to-own transaction.

Declares this Act inapplicable to certain motor vehicles sales and leases otherwise subject to the Truth in Lending Act.

What's happening now September 29, 2006

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 4037: Rent-To-Own Reform Act of 2006. 109th Congress. Open America. https://openamerica.io/bill/109-S-4037/
MLA
"S. 4037: Rent-To-Own Reform Act of 2006." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-4037/.
Bluebook (legal)
S. 4037, 109th Cong. (2026), https://openamerica.io/bill/109-S-4037/.
Markdown link
[S. 4037: Rent-To-Own Reform Act of 2006](https://openamerica.io/bill/109-S-4037/)
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