The “Image” and “Couple” commercial spots are released to APRO members. They are the third professionally produced commercial addressing the number one image source – television commercials.
The Consumer Rental-Purchase Agreement Act by Rep. Walter Jones is introduced in the House after J.C. Watts moves off Banking Committee. The bill ends up with 27 co-sponsors.
1997 Taxpayers Relief Act passes; includes provision defining RTO as a lease for tax purposes. The law also declares 3-Year MACRs depreciation method for rent-to-own products.