Opponents to Walker: Back Off New Rent-to-Own Rule
Posted at: 04/26/2013 1:54 PM
| Updated at: 04/27/2013 8:59 AM
MILWAUKEE (AP) — Religious leaders, a Republican state senator and others are asking Gov. Scott Walker to back off his plan to free rent-to-own businesses from Wisconsin's consumer protection act.
The provision in the budget proposal ensures the businesses wouldn't have to disclose what industry opponents say are exorbitant interest rates.
Milwaukee Archbishop Jerome Listecki, Republican Sen. Glenn Grothman and others held a news conference Friday.
Grothman described chains like Rent-A-Center as predatory. Listecki says rent-to-own businesses keep people in economic servitude that shouldn't exist in society.
Rent-A-Center spokesman Xavier Dominicis says their contracts aren't credit transactions and Wisconsin's consumer act shouldn't apply to them. He says the costs are clear in their contracts.
A Walker spokesman says members of the Joint Finance Committee can remove the proposal if they choose.
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