FTC Sends More Than $172 Million in Refunds to Consumers Misled by Rent-To-Own Provider Progressive Leasing

The Federal Trade Commission is returning more than $172 million to consumers who overpaid for merchandise they purchased using rent-to-own plans provided by Progressive Leasing.

Metadata
Provider: 
FTCFTC
URL: 
https://www.ftc.gov/news-events/press-releases/2021/06/ftc-sends-more-172-million-refunds-consumers-misled-rent-ownhttps://www.ftc.gov/news-events/press-releases/2021/06/ftc-sends-more-172-million-refunds-consumers-misled-rent-own
Retrieved on: 
Monday, June 7, 2021
Information
Tags: 
Contract law, Rent-to-own, Renting, Residential real estate, Product return, Federal Trade Commission, Articles, Economy, Business
Summary
Key Points: 
  • The Federal Trade Commission is returning more than $172 million to consumers who overpaid for merchandise they purchased using rent-to-own plans provided by Progressive Leasing.
  • More than two million consumers will receive refund checks.
  • The FTCs complaint against the company, filed in April 2020, alleged that Progressive misled consumers about the true price of items purchased through its plans.
  • More than two million consumers are receiving refunds, averaging $85 each.
Copyright: 
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