Consumer Rental-Purchase Agreement Act of 2005

The Consumer Rental-Purchase Agreement Act of 2005 (S. 603) was designed to establish national standards and consumer protections for "rent-to-own" transactions involving personal property like furniture or electronics. The bill would require merchants to clearly disclose the total cost of ownership, payment schedules, and any additional fees before a customer signs an agreement. Additionally, it would protect consumers by banning certain predatory practices, such as requiring customers to waive their legal rights or agree to automatic wage deductions as a condition of the rental.