Lawmakers in New York are considering joining Nevada and California in outlawing companion animal purchase contracts in which dogs or cats are used as collateral, or so-called pet leases. Final rent-to-own costs can run as high as $7,000, and if consumers do not comply with lease terms, pets can be repossessed and consumers' credit scores can be reduced, according to the Better Business Bureau, though one financial services company pushed back against the criticism and said it does not repossess animals.
Sign up for Animal Health SmartBrief
News for animal health professionals
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.