Buy Now, Pay Later Protection Act of 2025

This bill would define a "buy now, pay later loan" in federal law as a consumer loan for a retail purchase that is repaid in four or fewer interest-free installments with no finance charge. It would apply several Truth in Lending Act rules to these loans, including disclosure and billing statement requirements, billing error dispute procedures, and the right to raise claims and defenses about a purchase against the lender. The Consumer Financial Protection Bureau would have to issue rules to carry out these changes within one year. The bill would also place companies that offer buy now, pay later loans under the Bureau's supervision.

Full text and official record on Congress.gov

Sponsors

• Deborah K. Ross Democrat sponsor
• 6 cosponsors