Consumer Automobile Leasing Act of 1996 - Amends the Consumer Credit Protection Act (CCPA) to include in the definition of "consumer lease" contracts not exceeding $50,000 (currently, not exceeding $25,000).
Modifies requirements regarding consumer lease disclosures and advertising and imposes new requirements applicable to automobile lease disclosures and advertising.
Prohibits any stipulation, provision, or term of any lease from waiving a lessor's liability or depriving a lessee of any right or benefit under Federal or State law.
Amends the Truth in Lending Act (title I of the CCPA) to limit the total civil liability for violation of any consumer lease provision requirement to $10,000.
Mandates model disclosure forms.
Requires a study and report to the Congress on the feasibility of instituting a procedure for standardizing the terms and costs of automobile leases similar to unit pricing for consumer perishable goods.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Sponsor introductory remarks on measure. (CR E885-887)
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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