Madison
42° F
Light Drizzle
Light Drizzle
Advertisement

Wis. budget panel to consider rent-to-own changes

Published On: May 19 2013 09:11:17 AM CDT

MADISON, Wis. -

The Legislature's Joint Finance Committee is poised to consider provisions in Gov. Scott Walker's executive budget that would exempt rent-to-own stores from Wisconsin's consumer protection laws.

Rent-to-own businesses offer customers a chance to rent items such as appliances and electronics with no credit check. Customers can exit and rejoin the deals as they wish with an option to buy the items when they complete their contracts.

Critics contend the businesses charge exorbitant interest rates and prey on the needy. But industry advocates counter the contracts aren't credit transactions and shouldn't be subject to the state's consumer protection laws.

Walker's budget would create a new section of law governing rent-to-own that wouldn't require the businesses to disclose interest rates.

The finance committee is expected to review the provisions Thursday.

Advertisement
  • PHOTOS: 27 tons of documents destroyed during BBB Shredfest 2016

    The free BBB Shredfest event Saturday offered anyone with documents containing personal information to shred up to three bags. Destroying documents is one way to protect one's identity and thwart fraudsters.

    More than 1,600 cars stopped by two Madison locations from 8:30 a.m. to 11 a.m. Saturday, and 27 tons of documents were shredded, a Better Business Bureau representative said. The sites were at SVA Certified Public Accountants, 1221 John Q Hammons Dr. and Warner Park, 2930 N. Sherman Ave.

  • Elise Romas

    PHOTOS: Thousands take part in 34th annual CrazyLegs 2016

    The 34th annual CrazyLegs Classic 8K Run and 2-mile Walk Saturday raised money for UW Athletics. As of Friday night, 13,000 people had signed up to participate, and organizers expected more to register Saturday morning before the race begins in waves at 11 a.m.

    WINNERS: Pat Jenkins, 24, of Cambridge, is the top finisher in the men's category. UW law student Jessa Hackman, 24, of Madison, is the top female finisher.

Advertisement