ColorTyme is an American rent-to-own business, currently a wholly owned subsidiary of Rent-A-Center.
The court further held that the company was charging usurious rates of interest to its customers.
[2] A similar lawsuit, filed by the office of Wisconsin Attorney General James E. Doyle in 1993, resulted in the company being fined $25,000 and required to disclose interest rates and other credit terms to consumers.
[3] ColorTyme later settled a class action lawsuit brought by the Legal Aid Society of Milwaukee by agreeing to pay $2.9 million,[4] including $675,000 in interest-free loans to low-income individuals and families.
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