Industry Timeline

After serving as executive director for 28 years, APRO bids farewell to Bill Keese.

APRO, in conjunction with TRIB Group and the Tennessee Rental Dealers Association (TRDA), awards $106,500 worth of scholarships to 50 students. The cumulative total is 155 students with more than $386,000 worth of scholarships since the Education Foundation’s beginning.

John W. Robinson III is named CEO of Aaron’s.

Aaron’s purchases Progressive Finance entering into the virtual rent-to-own market.

The Consumer Rental Purchase Agreement Act is introduced by Sen. Jon Tester (D-MT) in the U.S. Senate.

The Consumer Rental Purchase Agreement Act is introduced by Rep. Gregory Meeks (D-NY) in the U.S. House.

RAC’s CEO, Mark Speese, retires. Robert Davis is named CEO.

APRO Awards $55,000 worth of education scholarships to 21 students.

The Consumer Rental Purchase Agreement Act passes the House Financial Services Financial Institutions and Consumer Credit Subcommittee by voice vote.

The APRO Scholarship Foundation awards 17 APRO Educational Scholarships, the most to date.

Rent One’s, Donna Falley is named APRO’s 2011 Employee of the Year.

The Consumer Rental-Purchase Agreement Act by Rep. Francisco “Quico” Canseco (R-TX) is introduced in the House.

APRO commissions Trenholm Research for its third Potential Customer Survey. The survey studies the perception of the rent-to-own industry by those customers who fit the rent-to-own demographics but do not rent-to-own. The rent-to-own industry received a grade equivalent of a “D+” for its perception outside of rent-to-own customers. The industry perception outside its customer, Read More

The APRO Educational Scholarship awards four scholarships to Cordilia Stewart, Kylie Pelow, Evan Carter Howell and Michael Kessler. This is the first time APRO has awarded multiple scholarships and establishes the permanent fund for future scholarships.

Louise Brown is announced as APRO’s Customer of the Year.

The U.S. Congress passes the Health Care Reform Act of 2010 affecting all businesses in America.

David Keen is announced as APRO’s Employee of the Year.

The suffering economy continues to generate positive press for the industry. For the first time in APRO’s history, there are more positive stories than negative.

Robin Walker wins APRO’s Educational Scholarship award. Walker is the second recipient but the permanent fund raising goal of $100,000 has not been met to officially launch the scholarship’s permanent fund. The fund is at $87,000.

APRO donates $50,000 worth of product and money to the Congressional Black Caucus Foundation Silent Auction. This is the 11th year of APRO’s donation campaign to the CBCF Scholarship Foundation. APRO becomes the primary sponsor of the CBCF Silent Auction.

The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The Senate bill generates 19 Senate co-sponsors.

Bill Tennison is announced as APRO’s Employee of the Year.

U.S. Senator Charles Schumer re-introduces the Rent to Own Reform Act – S. 1530 to “reign in these highway bandits.” The introduction sets off a series of news reports negatively portraying rent-to-own.

APRO awards its first $2,000 scholarship to Show Me Rent to Own employee. Penny Wyatt from Desloge, MO, attending Mineral Wells College. Wyatt is a special recipient of the scholarship donated from private RTO dealer to promote the scholarship’s first fund raising goal of $100,000 to establish a permanent fund to draw interest for, Read More

“Rent-to-own Agreements: Customer Characteristics and Contract Outcomes” by UMASS Finance Professor Dr. Michael H. Anderson and California Polytechnic State University Finance and Economics Professor, Dr. Sanjiv Jaggia is published in the Journal of Economics and Business. This is the fourth independent Financial Academic paper published regarding rent-to-own transactions continuing rent-to-own’s documented value in the, Read More

Rent to own industry shows continued growth for more than a decade, reflecting a $6.8 billion industry with an increase to 3 million customers.

“Renting the Good Life” Law Review article published into William & Mary Law Journal. “Renting the Good Life” is an independent legal review of the rent-to-own transaction adding to the arsenal of rent-to-own continued market acceptance and improved image.

U.S. Senator Charles Schumer introduces the Rent-to-Own Reform Act of 2007. The bill is detrimental to the RTO industry and Schumer uses the bill for television press coverage throughout New York and beyond.

FICO, the nation’s largest and most popular credit scoring system, issues a press release stating they will use rent-to-own payments as a part of their new credit scoring system for home loans.

The Consumer Rental-Purchase Agreement Act by Rep. William Lacy Clay is introduced in the House. The bill generates 99 house co-sponsors – the most House co-sponsors yet. The bill sponsor changes due to the Democratic change of power in the House.

Rent-to-own settles with the California Attorney General’s office that results in the toughest price control state legislation in the country.

The Democrats take control of both the U.S. House and Senate with many of RTO’s congressional critics finding themselves with significant power. Not only does RTO lose much of the positive congressional momentum created in the past eight years but has created a potentially hostile congressional climate not seen since the 1993 investigative hearings, Read More

U.S. Senator Charles Schumer officially introduces the Rent-to-Own Reform Act of 2006. The bill is detrimental to the RTO industry and Schumer uses the bill for television press coverage throughout New York and beyond. The bill is referred to the U.S. Banking Committee.

Rent-A-Center’s acquisition of RentWay continues RAC’s dominance as the largest rent-to-own chain in rent-to-own history.

The Buffalo News continues its press criticism of rent-to-own and other industries that culminate into two public hearings by the state legislature, public criticisms by statewide political candidates and the announcement of the Renters Right Act of 2006 by U.S. Senator Charles Schumer (D-NY).

APRO’s Government Relations and Public Relations crises of 1993-1997 is featured as a college textbook case study in political, media and public relations crisis management in “Cases in Business Ethics.”

The U.S. Regulatory Relief Act passes the U.S. Senate Banking Committee without rent-to-own legislation.

APRO releases first published media analysis report after one years’ worth of media coverage documented through web searches. Business news dominates the industry and negative coverage outweighs positive coverage 2 to 1.

New Jersey Supreme Court rules against RAC and rent-to-own. Damages still undecided while RAC appeals.

The Consumer Rental-Purchase Agreement Act by Rep. J.C. Watts is introduced in the House. The bill ends up with 36 co-sponsors.

APRO celebrates its 25th anniversary at its annual national convention and trade show.

APRO Customer of the Year, Johnie Bradford from Baber’s in Columbus, MS is honored at the APRO convention in Las Vegas, NV.

The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 19 co-sponsors.

APRO Customer of the Year, Patrick & Marianna Head from Baber’s in Tupelo, MS is honored at the APRO convention in Tampa, FL.

Senate Banking Committee holds hearing on regulatory relief issues, including rental-purchase language as part of the committee bill draft.

APRO commissions Trenholm Research for its second Potential Customer Survey. The survey studies the perception of the rent-to-own industry by those customers who fit the rent-to-own demographics but do not rent-to-own. The rent-to-own industry received a grade equivalent of a “D” for its perception outside of rent-to-own customers. The rent-to-own industry image outside of, Read More

APRO Employee of the Year, Anthony Robinson from Rent-A-Center in Lakewood, CO is honored at the APRO convention in Reno, NV.

RTO industry founding father, Ernie Talley dies.

The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 27 co-sponsors.

APRO’s print newsletter, View, ceases publication and is replaced by APRO’s first online publication, Rental Viewpoint.