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Buy Now Pay Later Consumer Protection Act of 2026
Last updated: 6/11/2026 · Introduced: 6/11/2026
Author: Daniel Goldman (D-NY)
TL;DR (AI)
- The bill amends the Truth in Lending Act to include buy now, pay later loans within the definition of 'credit card'.
- The definition of 'buy now, pay later loan' is specified as a closed-end consumer loan repaid in not more than 4 interest-free installments, without a finance charge, and offered at the time of purchase.
- The Bureau of Consumer Financial Protection is required to issue rules within 180 days of the Act's enactment to implement these amendments and apply certain regulations to issuers of buy now, pay later loans.
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Other Sections
Includes provisions on preamble, short title., and 1 more.
3 sections
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