58° F
Mostly Cloudy
Mostly Cloudy

Lawmakers to consider rent-to-own budget plan

Published On: May 23 2013 06:44:54 AM CDT


The Legislature's finance committee is set to decide whether to exempt rent-to-own stores from Wisconsin's consumer protection laws.

Rent-to-own businesses offer customers a chance to rent items without a credit check. Customers can exit and rejoin their contracts with an option to buy the items when they fulfill the terms. Critics contend the businesses prey on the poor and charge exorbitant interest rates. Industry advocates maintain the contracts aren't credit transactions and shouldn't fall under the state's consumer protection laws.

Gov. Scott Walker's budget would create a new section of state law governing the industry. The new statutes wouldn't require the businesses to disclose interest rates.

The finance committee is expected to review Walker's proposal Thursday. The panel could approve the plan as is, modify it or delete it.

  • Marysville Pilchuck school shooting 4


    2 dead in school shooting near Seattle, sources say

    A school shooting has been reported at Marysville-Pilchuck High School in Marysville, Washington, about 35 miles north of Seattle.

  • Craig Spencer

    America's Ebola patients

    An American doctor who was working with Ebola patients in Guinea was been diagnosed with the disease after returning to New York. Learn more about him and America's other Ebola victims.

  • Hot peppers


    Notable food recalls

    A North Carolina producer of peppers and hot sauces is voluntarily recalling 6,215 pounds of fresh serrano chili peppers because some tested positive for salmonella. Here are other notable food recalls that made headlines.

  • jack-o-lantern Halloween pumpkin

    Juliet James/SXC


    Games, recipes, trick-or-treating, scary movies and everything else you need to make your Halloween extra spooky.

  • Politician, politics, debate, election

    iStock / bns124

    Election Coverage

    Get up-to-date on political stories, Reality Check the latest political ads, learn about the candidates and find election results in our special section.

  • Ebola virus pink


    Ebola special coverage

    Get the latest news on the Ebola outbreak and resources to help you learn more about the deadly virus.