Buy Now Pay Later Consumer Protection Act of 2026

This bill changes the federal Truth in Lending Act so that "buy now, pay later" loans count as credit cards and the companies that offer them count as credit card issuers. It defines a buy now, pay later loan as a consumer loan for goods or services, offered at the time of purchase, that is repaid in no more than 4 interest-free payments and has no finance charge. The Bureau of Consumer Financial Protection would have to issue rules within 180 days to carry out these changes. Those rules must follow a 2024 Bureau interpretation on digital accounts used for these loans and apply certain existing credit card regulations to buy now, pay later lenders.

Full text and official record on Congress.gov

Sponsors

• Daniel S. Goldman Democrat sponsor
• 0 cosponsors