Top Vermont Officials Endorse Tighter Rent-to-Own Regulation

Vermont Statehouse winter

Gov. Peter Shumlin and Attorney General William Sorrell are offering their support for tighter regulation of Vermont's rent-to-own stores.

Christopher Curtis, an attorney with Vermont Legal Aid, says rent-to-own stores often target low-income Vermonters with deals that end up with them paying far more than the usual retail price of an item over the life of a rent-to-own contract.

A bill in the Senate Economic Development, Housing and General Affairs Committee would cap the effective interest rates in rent-to-own contracts and require better disclosures of the deals that consumers are getting.

Shumlin and Sorrell planned a Thursday afternoon news conference with other backers of the legislation. 

Copyright AP - Associated Press
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