Consumer Protection

Report | WISPIRG Foundation | Consumer Protection

Big Credit Bureaus, Big Mistakes

This report is the third of several that review complaints to the CFPB nationally and on a state-by-state level. In this report, we explore consumer complaints about credit bureaus with the aim of uncovering patterns in the problems consumers are experiencing with credit reporting.

News Release | WISPIRG Foundation | Consumer Protection

Report: Equifax/Experian/TransUnion Get Big Complaints

A new report by WISPIRG Foundation found that the most complained-about credit reporting agency in Wisconsin is Experian.  Millions of Americans have errors on their credit reports, which can affect the ability to get a loan, buy a house, rent an apartment, or even get a job.

WISPIRG Blocks Predatory Rent-To-Own Bill

In May 2013, WISPIRG helped defeat a provision that would have given special treatment to the predatory rent-to-own industry, which charges astronomical annual interest rates to rent used or older model products. WISPIRG joined with State Sen. Glenn Grothman, the Wisconsin Catholic Conference, and numerous faith and civic leaders to oppose a special interest exemption that would have eliminated the requirement that rent-to-own businesses disclose an APR.
 

A New Direction In Driving Trends

After a 60 year boom, driving is on the decline in the U.S. and no likely scenario shows it returning to previous levels of growth. 

Report | WISPIRG | Consumer Protection

The Rent-to-Own Rip-off

The 2013-2015 biennial executive budget, proposed by Governor Walker, includes an exemption for the rent-to-own industry from Wisconsin’s consumer protection laws. Rent-to-own businesses are appliance and furniture retailers that arrange “lease agreements,” rather than typical installment or credit sales contracts. These leases are regulated as a form of credit because the consumer is buying a product over time and paying a very high premium over the product’s sale price. As such, rent-to-own businesses in Wisconsin currently are regulated under the Wisconsin Consumer Act, providing strong protections for consumers from a predatory industry. The rent-to-own industry has effectively dismantled similar strong consumer protections that apply to these installment contracts in most states and replaced them with industry-friendly laws. In order to highlight why the rent-to-own industry should not be exempted from Wisconsin’s consumer protection laws, WISPIRG staff conducted a survey of five rent-to-own (RTO) stores in the Rockford, IL area in March 2013. We compared the cost of rent-to-own to the cost of buying the same or similar goods at major appliance and electronics retailers.
 

News Release | WISPIRG | Consumer Protection

Survey Finds Astronomical Rent-to-Own Prices, Interest Rates

A new report found that five rent-to-own stores in Rockford, IL on average charged an annual percentage rate of 221% and displayed outright cash purchase prices as much as two to seven times the cost of the same or similar products at other major retailers. The legislature is currently debating a controversial proposal in the executive budget proposal to provide a special exemption from the Wisconsin Consumer Act for the rent to own industry and which would eliminate the requirement to disclose an APR for Rent-to-Own products sold in Wisconsin.
 

Scott Walker's rent-to-own budget provision brings strong reaction

Rent-to-own stores would be able to sell customers high-cost financing plans for televisions, appliances and other goods without disclosing their interest rates, under a provision in Gov. Scott Walker's proposed state budget. In addition to exempting the industry from state consumer protection laws, the measure would cap how much wronged customers could get if they sued rent-to-own stores. The stores typically sell products under plans that cost buyers two or three times prices they would pay elsewhere, according to a report by the Wisconsin Public Interest Research Group.
 

News Release | WISPIRG | Consumer Protection

Statement of WISPIRG Director Bruce Speight Regarding Rent-to-own Provisions in State Budget

Carving out a special interest exemption for a predatory industry that traps consumers, especially low-income consumers, in a cycle of high-cost, perpetual debt is not good for Wisconsin’s economy and it’s not good for Wisconsin consumers.  Unfortunately, the executive budget proposal does exactly that for the rent-to-own industry.
 

News Release | WISPIRG | Consumer Protection

Coalition Calls on State Leaders to Remove Rent-to-Own Industry Exemptions from State Budget Bill

A broad coalition of consumer, faith-based, aging, family, and public interest organizations is urging state lawmakers to remove language in Governor Walker’s budget proposal that exempts the rent-to-own industry from Wisconsin’s consumer protection laws. 
 

Report | WISPIRG Foundation | Consumer Protection

Trouble in Toyland 2012

The 2012 Trouble in Toyland report is the 27th annual Wisconsin Public Interest Research Group (PIRG) survey of toy safety. In this report, WISPIRG provides safety guidelines for consumers when purchasing toys for small children and provides examples of toys currently on store shelves that may pose potential safety hazards.

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