Rent-to-own Rover deals banned in N.Y.

ALBANY – Citing the potential for scams that hurt poor people, Gov. Cuomo signed a new law banning the leasing of pets in New York.

Cuomo, who recently adopted a dog he named Captain, said the practice of leasing companion animals has resulted in predatory lending and balloon payments that many lower-income pet owners didn't understand and can't afford, which can end up with the animals being cruelly repossessed.

The law, sponsored by Sen. Carl Marcellino (R-Nassau County) and Assemblyman Matthew Titone (D-Manhattan) prohibits the use of dogs and cats as collateral.

“As I've learned firsthand, pets quickly become members of your family, and it is unconscionable that there are unscrupulous sellers who would use pets as collateral,” Cuomo said in signing the bill.