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September 2, 1983

Survey of ACUCCCS Members on Disclosure Requirements for Consumer Leases

Dear {Recipient},

Earlier this year, Assistant Attorney General Patricia J. McFarland of this office, who was then the President of The American Conference of Uniform Consumer Credit Code States agreed to survey the members of that association on the question of whether consumer lease disclosure requirements in those states conflicted with federal truth-in-lending requirements. Ms. McFarland sent the attached Memorandum to all member states on April 1, 1983. In early July, 1983, Ms. McFarland left this office to join Norwest Financial. Of course, due to her joining the private sector, she is no longer an officer of or member of ACUCCCS .

Recently, {employee} of your office inquired as to the results of this survey. Ms. McFarland has advised me that only three of the UCCC states responded to the survey (Utah, Colorado and South Carolina). The responses are enclosed for your information.

This office does not separately regulate consumer lessors, thus we have no way of knowing the type of disclosure which is consistently in consumer leases. We have received some consumer complaints concerning consumer leases, primarily against "rent-to-own" lessors; however, we have no way of knowing if disclosures used by these lessors are typical of the industry.

I hope this information is of use to you. Please feel free to call the undersigned if you have any further questions on this or related matters.

Sincerely,

Linda Thomas Lowe
Assistant Attorney General

Survey of ACUCCCS Members on Disclosure Requirements for Consumer Leases (PDF)

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