Attorney General Raoul Announces $35 Million Bipartisan Multistate Settlement With Leasing Company Tempoe LLC
CHICAGO - Attorney General Kwame Raoul today, along with 41 attorneys general, announced a $35 million bipartisan settlement with leasing company Tempoe LLC (Tempoe). The settlement resolves a multistate investigation Raoul and the coalition conducted into Tempoe’s advertising and leasing to consumers through retailers across the nation. The investigation revealed that Tempoe’s marketing and sales practices often misled consumers to believe they signed up for an installment plan or credit sale. However, in reality, consumers entered into a lease agreement. The complicated structure of the lease agreements, as well as the lack of required disclosures, caused confusion and often resulted in consumers paying two to three times the purchase price of the product or service. “Tempoe’s lease agreements confused Illinois consumers and made it difficult to understand important terms, including how much a consumer would have to potentially pay for the duration of the