A small, scrappy industry took on courts, Congress, and headlines—and won. Chris Korst, longtime Rent-A-Center executive and counsel, joins us to unpack how rent-to-own went from “wild west” storefronts to a regulated, transparent option for millions of consumers who need flexibility without credit.
We retrace the late-80s strategy that changed everything: build balanced model legislation, center the right to terminate and return, and carry that framework state by state with local merchants at the mic. With APRO’s support and the Council of State Governments’ Suggested State Legislation as a force multiplier, the coalition moved from four state laws to roughly forty-five by the late 90s. Chris shares the scars and the wins—Pennsylvania’s shutdown, Minnesota and Wisconsin deadlocks, and the Wall Street Journal blowback—and how the industry’s answer was better disclosures, respectful collections, and real compliance training. Along the way, we dig into the federal fight to keep RTO out of Truth in Lending, the tax code victory that affirmed depreciation, and the later carve-out that kept the CFPB from redefining the model.
Fast forward to today: buy now, pay later and virtual leasing are reshaping expectations at checkout. Chris explains why innovation must not obscure the core safeguard that persuaded policymakers decades ago—the true right to terminate. When lease-like products erase the off-ramp, regulators see credit by another name, risking overreach that harms consumers and compliant operators alike. We close with pragmatic advice for APRO members and RDAs: collaborate relentlessly, lead with customer care, bring satisfied customers to testify, and keep the narrative grounded in transparency and choice.
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