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H.R. 1551: Consumer Rental Purchase Agreement Act

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H.R. 1551: Consumer Rental Purchase Agreement Act

113th Congress · introduced 2013-04-15 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2013-04-15 · official record
  2. Who proposed it: Rep. Meeks, Gregory W. [D-NY-5] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Consumer Rental Purchase Agreement Act

Plain summary

Consumer Rental Purchase Agreement Act - 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 (FTC) and to state attorneys general. Subjects to criminal penalties any willful and knowing violation of the information disclosure requirements of this Act.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Consumer Rental Purchase Agreement Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Meeks, Gregory W. [D-NY-5] · 65 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Pete Sessions (R-TX), Sam Graves (R-MO), Ann Wagner (R-MO), Steve Womack (R-AR), Brett Guthrie (R-KY), Terri A. Sewell (D-AL), Scott DesJarlais (R-TN), Marsha Blackburn (R-TN), Charles J. "Chuck" Fleischmann (R-TN), Mark Takano (D-CA), Frederica S. Wilson (D-FL), Jason Smith (R-MO), Kathy Castor (D-FL), Robert J. Wittman (R-VA), Danny K. Davis (D-IL), Jim Jordan (R-OH), Andy Barr (R-KY), Eric A. "Rick" Crawford (R-AR), Tom Cotton (R-AR) and 5 more.

Sponsor's campaign money: Rep. Meeks, Gregory W. [D-NY-5] reported raising $2.3 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Rulemaking
The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong113-hr1551 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113