Governor Jim Doyle today vetoed Senate Bill 268, which would exempt the rent-to-own industry from various provisions of the Wisconsin Consumer Act and modify how the rent-to-own industry is regulated in Wisconsin.
“The Wisconsin Consumer Act has for decades provided strong protections for Wisconsin consumers, and is considered one of the best consumer protection laws in the country,” Governor Doyle said. “As Attorney General, I successfully fought in the courts to assure that the Wisconsin Consumer Act applied to rent-to-own transactions. And while SB 268 includes some significant improvements over past legislative efforts, I am not satisfied that it provides adequate protection to consumers.”
The Departments of Agriculture, Trade and Consumer Protection and Financial Institutions both recommend a veto by Governor Doyle on Senate Bill 268, finding no reason to give special treatment to the rent-to-own industry, and raising substantial concerns about the numerous protections that consumers would forfeit under the bill.
“People who use rent-to-own services are among our most poor and vulnerable citizens,” Governor Doyle said. “The Wisconsin Consumer Act was designed with exactly these consumers in mind, and I simply can’t compromise their protection by signing this bill.”
Governor Doyle’s veto message is available at: http://www.wisgov.state.wi.us/docview.asp?docid=6637
