Ashley HomeStore Reaches Consumer Disclosure Agreement With PA

Pittsburgh PA

16 March, 2022

3:57 PM

Description

HARRISBURG, PA — Ashley HomeStore has entered into "hang tag" law violation agreements with the Pennsylvania Attorney General's office. Officially dubbed assurances of voluntary compliance, the agreements mandate that all Ashley HomeStores in Pennsylvania will provide consumers with clear information on rent-to-own items displayed in stores. The hang tag law requires retailers offering rental purchase agreements to display basic terms of the transaction on a tag attached to the item offered for rental purchase, including the rental payment amount, the cash price, the total number and amount of payments and the cost of lease services. According to Attorney General Josh Shapiro, due to certain deceptive practices in the industry, many consumers don't know the true cost and nature of financing options. For example, many consumers are unaware that they are obtaining rent-to-own financing as opposed to traditional credit. People can be charged double the cash price of the property - the equivalent of 152 percent annual interest - under such financing agreements. "The law doesn't allow businesses to hide the fine print so they can rip off Pennsylvania consumers," Shapiro said in a statement. "You deserve to know the real cost of what you buy, before purchasing it, so you can make smart decisions on how to spend your hard-earned money." Ashely stores in Pennsylvania are located in: PhiladelphiaRossHazle TownshipMechanicsburgDuBoisLeightonAltoonaHarrisburgJohnstownWillow GroveWind GapYorkWilkes BarreErieLancasterWarminsterChambersburgBensalemFairless HillsConshohockenQuakertownWhitehallPottstownClifton HeightsBe the first to know what's happening in your community and region. With a free Patch subscription, you'll always be up to date on local and state news: https://patch.com/subscribe.