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S 881 112th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Business records Civil actions and liability Consumer affairs Consumer credit Contracts and agency Evidence and witnesses Federal Reserve System Federal Trade Commission (FTC) Federal preemption Fraud offenses and financial crimes Small business

Consumer Rental-Purchase Agreement Act of 2011

Introduced: May 4, 2011 See on congress.gov
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) 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
May 4, 2011
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 4, 2011
Introduced in Senate
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 Plain-English summary Congressional Research Service

Consumer Rental-Purchase Agreement Act of 2011- Amends the Consumer Credit Protection Act to prescribe consumer protection guidelines for rental-purchase transactions, including: (1) the determination of rental-purchase cost; (2) disclosure requirements; (3) prohibitions against confessions of judgment, wage assignments, and waiver of consumer claims or defenses; (4) furnishing of statements of account; (5) point-of-rental disclosures; and (6) rental-purchase advertising disclosures.

Declares that an action for civil liability may be brought against a merchant's assignee only if the violation is apparent on the face of a rental-purchase agreement to which it relates, including, but not limited to, a disclosure that can be determined to be incomplete or inaccurate from the face of the agreement.

Authorizes the Board of Governors of the Federal Reserve System to promulgate implementing regulations.

Grants enforcement powers to the Federal Trade Commission and to state attorneys general.

Subjects to criminal penalties any willful and knowing violation of the information disclosure requirements of this Act.

What's happening now May 4, 2011

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

 Related & companion bills 1
  • HR 1588 Related bill Consumer Rental Purchase Agreement Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Republican 4
R
Moran, Jerry
Kansas · Jul 24, 2012
 R
Thune, John
South Dakota · Mar 8, 2012
 R
Boozman, John
Arkansas · May 23, 2011
 R
Wicker, Roger F.
Mississippi · May 4, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). S. 881: Consumer Rental-Purchase Agreement Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-S-881/
MLA
"S. 881: Consumer Rental-Purchase Agreement Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-S-881/.
Bluebook (legal)
S. 881, 112th Cong. (2026), https://openamerica.io/bill/112-S-881/.
Markdown link
[S. 881: Consumer Rental-Purchase Agreement Act of 2011](https://openamerica.io/bill/112-S-881/)
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