Hunter
10/24/23
Iowa Attorney General Brenna Bird announced a multi-state settlement against a company that practiced misleading advertising and leasing.
In a release from her office, a multistate investigation found Tempoe LLC deceived Americans into signing leases for goods, instead of installment plans or credit sales. The missing disclosures and complicated structure of the leases confused consumers, leading to them paying 2–3 times the purchase price of the goods. Iowans leased a variety of products, including mattresses, lawn and garden items, and tires.
41 states and the District of Columbia are part of the settlement, which permanently bans Tempoe from any future leasing activities. Iowans with existing leases have had their contracts cancelled, and are allowed to keep the products without further financial obligation. In addition, Tempoe will pay $2 million in penalties, including $1 million to each state and jurisdiction participating in the suit and a $1 million payment to the Consumer Financial Protection Bureau.
Further questions can be directed to the Iowa Attorney General’s Office at 888-777-4590.