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
