I was at a small reception with the esteemed Congressman Ed Townes (D-NY) when I heard APRO President and Illinois rent-to-own dealer, Larry Carrico, talk about Moneris' "charge back" percentages for the rent-to-own industry as being amongst the best of the many industries that use Moneris' debit/credit card transaction service. While I had to stop Carrico to ask him to fully explain the inside, banking terminology, Congressman Townes smiled at me hoping somebody would explain as well so we could have context to the "charge back" story. Carrico quickly explained "insufficient funds," "a bad transaction due to the lack of money from the charge." "Oh!" I believe was the response from both Congressman Townes and myself when we both realized the significance of what Carrico was relaying from his earlier meeting with Moneris representatives and Congresswoman Melissa Bean.

Basically, Moneris' charge back percentages from the rent-to-own industry or the lack-thereof, shows how financially responsible and savvy the rent-to-own customer is in the market. And Moneris' has the numbers and the context to prove so. Carrico explained how Rep. Bean's office was very surprised. (So was Congressman Townes.) And the story made the Congresswoman's staff re-think the rent-to-own industry and the rent-to-own customer. The image of the unsophisticated, helpless victim being financially crippled by the rent-to-own transaction was now a responsible, hard-working American who uses rent-to-own as their financial means of fundamental household needs and the path to an improved financial status. And, again, Moneris has the numbers to prove it. The Moneris story then helped again as Congressman Townes, a powerful New York City Congressman, became further empowered by the news as Rep. Townes just signed on to the Consumer Rental Purchase Agreement Act by Rep. William Lacy Clay that is being supported by the rent-to-own industry and he now felt even better about his support. Thank you Moneris but, ultimately, thank you to the three million hard working and financially responsible rent-to-own customers out there in America.

Not only did Moneris have the insight to understand the importance of the rent-to-own industry's federal legislative campaign but they had the story that needs to be told. The rent-to-own industry has been telling the exact same story for 14 years on Capitol Hill but when it is told by a third-party financial institution in real numbers and real comparisons, it has a different ring and it did.

Kudos to Moneris on many different levels. One for recognizing the rent-to-own customer and the rent-to-own industry and helping the industry continue to modernize their business and their services. Secondly, for recognizing the importance of federal legislation for the rent-to-own industry and helping in our campaign. And, lastly, for telling the rent-to-own story that needs to be told to Congress and to America.