NEWSLETTERS - Minnesota Rep. Bachmann, others to join RTO bill

Minnesota Rep. Bachmann, others to join RTO bill

The rent-to-own industry will soon add additional co-sponsors to its pending federal bill in the U.S. House of Representatives, according to congressional staff members.

Minnesota Rep. Michele Bachmann (R-6th)

Freshman Republican Rep. Michele Bachmann, who represents Minnesota's 6th Congressional District, has agreed to sign on to H.R. 1767 -- The Consumer Rental Purchase Agreement Act -- and would become the 87th co-sponsor of the bill.

Rep. Bachmann, who is the first Republican woman to be elected to the U.S. House of Representatives from Minnesota, is also a member of the House Financial Services Committee -- the committee of jurisdiction for H.R. 1767.

An April 25 e-mail from Bachmann's legislative director, Jessica Taylor to RTO dealer Bob Freitag -- Minnesota Rental Dealers Association president and owner of T.G.I. Freitags  -- states "Rep. Bachmann has co-sponsored H.R. 1767."

Though, due to the time of submittal late Friday, Bachmann's name has not yet been recorded in the Congressional Record, it will likely be added early this week, according to APRO Public Affairs Director Richard May.

"To add a Congresswoman on the committee (Financial Services) from Minnesota is very significant," May says. "This shows she has looked at the bill and determined it makes sense for her state."

When added, Bachmann will become the 17th member of the House Financial Services Committee to join in support of the legislation which will define the rent-to-own transaction as a lease.

The legislation is particularly significant for Bachmann's state of Minnesota.

L to R: Mark Windsor, Jeff Lebakken, Rep. Bachmann, Aaron Windsor and Bob Freitag.

Minnesota, New Jersey, and Wisconsin are states that, due to court interpretations of the rent-to-own transaction as a credit sale, remain unfriendly to the industry. The federal legislation would overrule court decisions in these states and provide additional consumer protections including disclosure and reinstatement rights.

Freitag met with Bachmann as a first time APRO Legislative Conference attendee this February, alongside fellow dealers Mark and Aaron Windsor of National TV Sales and Rental, and Jeff Lebakken of Lebakken's Rent-To-Own. Bachmann's co-sponsorship drives home the importance of following up, Freitag says, even in the face of rejection.

"Only about 25 percent of the e-mails I've sent out since the conference got a response," Freitag says. "The rest I never hear from, but I didn't give up. This is very important and very exciting."

Congressman Danny Davis, who represents Illinois' 7th Congressional District, has also agreed to sign on to the legislation, according to an April 28 e-mail from legislative staffer Yul Edwards.

mevans@rtohq.org