Highlighting key points in the history of the rent-to-own industry over the past three-plus decades.
Jun 2017
After serving as executive director for 28 years, APRO bids farewell to Bill Keese.
May 2017
APRO hires Jill McClure as executive director.
Aug 2015
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.
Jan 2015
Happy Birthday APRO!
Nov 2014
John W. Robinson III is named CEO of Aaron’s.
May 2014
APRO awards $115,000 worth of scholarships to 33 students. The cumulative total is 105 students with more than $280,000 worth of scholarships since the Education Foundation’s beginning.
Apr 2014
Aaron’s purchases Progressive Finance entering into the virtual rent-to-own market.
Jul 2013
APRO awards $79,000 worth of education scholarships to 28 students.
Jun 2013
The Consumer Rental Purchase Agreement Act is introduced by Sen. Jon Tester (D-MT) in the U.S. Senate.
May 2013
APRO Scholarship Foundation awards $74,000 worth of scholarships to 27 students. The cumulative total is 71 students with more than $167,000 worth of scholarships since the Education Foundation’s beginning.
Apr 2013
The Consumer Rental Purchase Agreement Act is introduced by Rep. Gregory Meeks (D-NY) in the U.S. House.
Feb 2013
APRO launches ShopRTO.com, its consumer-facing website.
Feb 2013
RAC’s CEO, Mark Speese, retires. Robert Davis is named CEO.
Aug 2012
Aaron’s founder, Charlie Loudermilk, retires. Ron Allen is named CEO.
Jun 2012
APRO Awards $55,000 worth of education scholarships to 21 students.
May 2012
The Consumer Rental Purchase Agreement Act passes the House Financial Services Committee 33-21.
Nov 2011
The Consumer Rental Purchase Agreement Act passes the House Financial Services Financial Institutions and Consumer Credit Subcommittee by voice vote.
Jul 2011
The U.S. House Financial Institutions and Consumer Credit Subcommittee hold a hearing on H.R. 1588 – The Consumer Rental Purchase Agreement Act by Rep. Francisco “Quico” Canseco. Premier owner, Roy Soto and APRO Customer of the Year, Vivian Saunders testify on behalf of the RTO industry. University of Houston Professor, Jim Hawkins testifies on, Read More
Jun 2011
The APRO Scholarship Foundation awards 17 APRO Educational Scholarships, the most to date.
Jun 2011
BestWay’s, Vivian Saunders is named APRO’s 2011 Customer of the Year.
Jun 2011
Rent One’s, Donna Falley is named APRO’s 2011 Employee of the Year.
May 2011
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate.
Apr 2011
The Consumer Rental-Purchase Agreement Act by Rep. Francisco “Quico” Canseco (R-TX) is introduced in the House.
Jan 2011
In an effort to focus on the industry image, APRO conducts focus groups in San Antonio, Columbus, Tampa and Syracuse. These focus groups set the framework for a national marketing plan.
Sep 2010
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
Jul 2010
President Obama signs the Financial Stability Act of 2009 creating the Consumer Financial Protection Bureau. The rent-to-own industry is not addressed in the legislation.
Jul 2010
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.
Jul 2010
David Lane is announced as APRO’s Employee of the Year.
Jul 2010
Louise Brown is announced as APRO’s Customer of the Year.
Jun 2010
APRO donates $50,000 worth of product and money to the Congressional Black Caucus Foundation Silent Auction. This is the 12th year of APRO’s donation campaign to the CBCF Scholarship Foundation. APRO continues to be the primary sponsor of the CBCF Silent Auction.
Mar 2010
The U.S. Congress passes the Health Care Reform Act of 2010 affecting all businesses in America.
Jan 2010
Happy Birthday APRO!
Sep 2009
David Keen is announced as APRO’s Employee of the Year.
Sep 2009
Robert and Sherron Wilder are announced as APRO’s Customer of the Year.
Sep 2009
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.
Jul 2009
APRO commissions America’s Research Group for its fourth customer satisfaction study. Rent-to-own dealers receive an “A” for customer service. The rent-to-own industry, now settling down from consolidation, rebounds from its 2004 grade of a “C”. The rent-to-own customer satisfaction is 10 points higher than profitable, traditional retail.
Jul 2009
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.
Jun 2009
Policy Matters Ohio release their report “Paying More, Renting Debt: Why Rent-to-Own is a bad deal for Ohio consumers.” The report generates some media activity and calls for the Ohio legislature to further regulate rent-to-own in Ohio.
Jun 2009
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.
Feb 2009
The Consumer Rental-Purchase Agreement Act by Rep. William Lacy Clay is introduced in the House. The bill generates 126 house co-sponsors – the most House co-sponsors yet.
Feb 2009
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The Senate bill generates 19 Senate co-sponsors.
Sep 2008
President George Bush announces the U.S. economy is in danger due to toxic mortgage loans and consumer credit crises. The economic circumstances create media opportunities that promote rent-to-own’s role in the economy and credit-constrained consumers. Several national media stories in the Wall Street Journal and USA Today spark dozens of local stories about rent-to-own, Read More
Sep 2008
Bill Tennison is announced as APRO’s Employee of the Year.
Sep 2008
Kim Royal is APRO’s Customer of the Year.
Jun 2008
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.
Jun 2008
APRO donates $50,000 worth of product and money to the Congressional Black Caucus Foundation Silent Auction. This is the 10th year of APRO’s donation campaign to the CBCF Scholarship Foundation.
Apr 2008
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
Mar 2008
APRO conducts its second “Computers for Kidz” computer donation, donating 30 computers to St. Louis schools in conjunction with Rep. William Lacy Clay.
Jan 2008
“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
Jan 2008
The continued economic downturn helps RAC and Aaron’s as CNBC’s featured stocks. The industry begins receiving first tier national coverage as the economy worsens due to high gas prices and tightening credit.
Nov 2007
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.
Sep 2007
APRO Employee of the Year, Jonathan Brown from BestWay in Tappahannock, VA is honored at the APRO convention in Reno, NV.
Aug 2007
“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.
Jul 2007
The University of Clemson releases a sociological report study that cites rent-to-own serving a need to the Asset Limited Income Constrained (ALIC) consumer in America. The independent study is the first independent sociological study on the value of rent-to-own in American society and another academic study adding to the arsenal of rent-to-own continued market, Read More
May 2007
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.
May 2007
Rent-A-Center settles the New Jersey court case for $109 million.
May 2007
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.
Apr 2007
The El Paso Times cites rent-to-own as the wisest transaction for musical instruments.
Mar 2007
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.
Mar 2007
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The Senate bill generates 21 Senate co-sponsors.
Nov 2006
Rent-to-own settles with the California Attorney General’s office that results in the toughest price control state legislation in the country.
Nov 2006
Rent-A-Center buys RentWay chain increasing RAC’s store dominance of the rent-to-own industry.
Nov 2006
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
Nov 2006
CREDCO, 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.
Oct 2006
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.
Sep 2006
Rent One’s Murray Beck from Mt. Vernon, IL is honored as 2006 APRO Employee of the Year at APRO’s convention in Orlando.
Aug 2006
Rent-A-Center’s acquisition of RentWay continues RAC’s dominance as the largest rent-to-own chain in rent-to-own history.
Aug 2006
The Department of Defense releases a report criticizing predatory lending practices that includes rent-to-own. Dozens of media outlets pick the story up and the Senate Banking Committee holds a hearing on the report, but focuses on payday loans. The DOD report is the third national news medium negatively featuring rent-to-own in the past year.
Aug 2006
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).
Jul 2006
The Brookings Institution releases a report entitled “From Poverty, Opportunity: Putting the Market to Work for Lower Income Families” which included negative reports and criticisms of the RTO industry that received dozens of media coverage in major cities throughout the U.S.
Jun 2006
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.”
Jun 2006
APRO launches permanent RTO [Relief To Our] Employees Disaster Relief Fund. The fund was formalized after last season’s destructive hurricanes and APRO’s successful response in assisting APRO employees’ recovery from the disasters.
May 2006
The U.S. Regulatory Relief Act passes the U.S. Senate Banking Committee without rent-to-own legislation.
May 2006
The Buffalo News begins a series of negative articles on rent-to-own and New York RTO legislation.
Apr 2006
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.
Mar 2006
Visit www.RTOHQ.org.
Mar 2006
New Jersey Supreme Court rules against RAC and rent-to-own. Damages still undecided while RAC appeals.
Mar 2006
Wisconsin Governor vetoes WI state rent-to-own legislation that recently passed both houses.
Dec 2005
The Consumer Rental-Purchase Agreement Act by Rep. J.C. Watts is introduced in the House. The bill ends up with 36 co-sponsors.
Sep 2005
APRO collects and distributes $158,411 to 159 APRO member employees who were displaced by hurricanes Katrina, Rita and Wilma.
Aug 2005
APRO celebrates its 25th anniversary at its annual national convention and trade show.
Aug 2005
APRO Employee of the Year, Paul Russell from Blue Ribbon Rentals in St. Clarisville, OH is honored at the APRO convention in Las Vegas,NV.
Aug 2005
APRO Customer of the Year, Johnie Bradford from Baber’s in Columbus, MS is honored at the APRO convention in Las Vegas, NV.
Apr 2005
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 40 co-sponsors.
Mar 2005
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 19 co-sponsors.
Aug 2004
APRO debuts buying show during annual convention in Tampa, Florida. Buyers place orders for more than $13.2 million.
Aug 2004
APRO Customer of the Year, Patrick & Marianna Head from Baber’s in Tupelo, MS is honored at the APRO convention in Tampa, FL.
Aug 2004
APRO Employee of the Year, Jody Katz from Buddy’s Home Furnishings in Tampa, FL is honored at the APRO convention in Tampa, FL.
Jun 2004
Senate Banking Committee holds hearing on regulatory relief issues, including rental-purchase language as part of the committee bill draft.
May 2004
APRO conducts third RTO Customer Satisfaction Survey by Brit Beemer of America’s Research Group. RTO customer satisfaction received the equivalent of a grade of a “C+”, a significant departure from the previous two surveys. Industry experts attribute the lower customer satisfaction to the consolidation of the industry causing employee and store changes, disrupting the, Read More
Mar 2004
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
Oct 2003
The Wall Street Journal publishes two fairly favorable articles on the RTO industry and its struggle for definition.
Aug 2003
APRO Employee of the Year, Anthony Robinson from Rent-A-Center in Lakewood, CO is honored at the APRO convention in Reno, NV.
Aug 2003
APRO Customer of the Year, Donna Brown from Baber’s in Tupelo, MS is honored at the APRO convention in Reno, NV.
Jun 2003
RTO industry founding father, Ernie Talley dies.
May 2003
APRO launches its APRO Scholarship Foundation.
Apr 2003
The Consumer Rental-Purchase Agreement Act by Sen. Mary Landrieu is introduced in the Senate. The bill ends up with 27 co-sponsors.
Feb 2003
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House. The bill ends up with 95 co-sponsors.
Jan 2003
APRO’s print newsletter, View, ceases publication and is replaced by APRO’s first online publication, Rental Viewpoint.
Sep 2002
RTO bill passes the full House of Representatives by a vote of 215 to 201. The bill dies in the Senate, but leaves the industry with momentum.