Consumer Leasing Act

2/2
Status In Committee
Sponsor Joseph Biden
Citation 94-S-1961
Actions 2
Introduced Jun 17th, 1975
Cosponsors
5
Last Action Jun 17th, 1975
Policy Area
Introduced Senate Jun 17
Senate
House
President
Enacted

Summary

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Consumer Leasing Act - Declares it the purpose of this Act to assure a meaningful disclosure of the terms of leases of personal property so as to enable the lessee to compare more readily the various lease and credit terms available to him, to limit balloon payments, and to assure meaningful and accurate disclosures of lease terms in advertisements. Requires, under the Truth in Lending Act, the lessor of personal property to give to the lessee, prior to the consummation of the lease, a dated written statement on which the lessor and lessee are identified setting out in a clear conspicuous manner the terms of the lease, as specified by this Act. Imposes specified limitations upon consumer lease advertising. Makes a lessor who violates the provisions of the Act civilly liable to the lessee.

Actions

2
Senate
INTRODUCED
INTRODUCED
Jun 17, 1975
ON FLOOR
REFERRED TO COMMITTEE
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