FTC Highlights Concerns About Leasing . . . Of Pets

When advertising consumer leases, it's important for marketers to make sure that their advertising complies with the Consumer Leasing Act as well as Reg M.  

The rules apply whenever you're leasing personal property to an individual for more than four months for that person's personal use, so long as the total financial obligation under the lease is not more than $55,800.  Although people often think of leasing in the car industry, these rules actually apply to others who advertise consumer leases too.  

The FTC just published a post reminding businesses that these rules apply to leases of pets!  Recognizing that pet leasing is a relatively new industry, the FTC expressed the concern that "most people considering buying a pet are not expecting to be handed a lease and many pet sellers may not be prepared to explain a lease terms."