summary
Introduced
12/18/2025
12/18/2025
In Committee
12/18/2025
12/18/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A bill to amend the Truth in Lending Act and the Consumer Financial Protection Act of 2010 to apply certain protections and oversight to buy now, pay later loans, and for other purposes.
AI Summary
This bill, titled the "Buy Now, Pay Later Protection Act of 2025," aims to extend existing consumer protections to "buy now, pay later" (BNPL) loans, which are defined as short-term, interest-free retail loans repaid in four or fewer installments. It amends the Truth in Lending Act to include BNPL loans under rules that govern credit card transactions, meaning consumers will have similar rights to dispute charges or resolve issues with BNPL providers as they do with credit card companies. Additionally, the bill amends the Consumer Financial Protection Act of 2010 to bring BNPL lenders under the supervision of the Consumer Financial Protection Bureau (CFPB), a federal agency responsible for overseeing financial products and services, ensuring that the CFPB has the authority to regulate these types of loans.
Committee Categories
Housing and Urban Affairs
Sponsors (5)
Jack Reed (D)*,
Richard Blumenthal (D),
Kirsten Gillibrand (D),
Chris Van Hollen (D),
Elizabeth Warren (D),
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S8923) (on 12/18/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/senate-bill/3561/all-info |
| BillText | https://www.congress.gov/119/bills/s3561/BILLS-119s3561is.pdf |
Loading...