HR9275Referred to Committee

Buy Now Pay Later Consumer Protection Act of 2026

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-06-11
Introduced
0
Cosponsors
HR
ⓘ
Type

Sponsor

Daniel S. Goldman
Daniel S. Goldman
Democrat · NY · Representative
Votes with party: 97.3% (521 recorded votes)
Top industries funding sponsor:
  • Progressive Groups$78k

Full profile: /officials/G000599

Source: Congress.gov · FEC

Cosponsors (0)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Financial Services.

2026-06-11

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

The proposal would expand federal credit card rules to cover "buy now, pay later" services, which let shoppers split purchases into installments without paying upfront. This would require companies offering these payment plans to follow the same consumer protections and disclosure requirements as traditional credit card companies, including clear information about fees and interest rates. The change would affect both the companies providing these services and consumers who use them to make purchases.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9275 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9275 To amend the Truth in Lending Act to include buy now, pay later loans and issuers of such loans in the definition of credit card and credit issuer, respectively, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES June 11, 2026 Mr. Goldman of New York introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Truth in Lending Act to include buy now, pay later loans and issuers of such loans in the definition of credit card and credit issuer, respectively, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Buy Now Pay Later Consumer Protection Act of 2026''. SEC. 2. BUY NOW, PAY LATER LOANS INCLUDED IN DEFINITION OF CREDIT CARD. (a) In General.--Section 103 of the Truth in Lending Act (15 U.S.C. 1602) is amended-- (1) in subsection (l), by adding at the end the following: ``The term includes a buy now, pay later loan.''; (2) in subsection (o), by adding at the end the following: ``The term includes a person who issues a buy now, pay later loan.''; and (3) by adding at the end the following: ``(ff) Buy Now, Pay Later Loan.--The term `buy now, pay later loan' means a closed-end consumer loan for goods or services that-- ``(1) is repaid in not more than 4 interest-free installments; ``(2) does not impose a finance charge; and ``(3) is provided to a consumer, at the time such consumer seeks to purchase goods or services, to finance the purchase of such goods or services.''. (b) Rulemaking.-- (1) In general.--Not later than 180 days after the date of the enactment of this Act, the Bureau of Consumer Financial Protection shall issue rules to carry out the amendments made by this section. (2) Requirements.--The rules issued under paragraph (1) shall-- (A) be in accordance with the interpretive rule entitled ``Truth in Lending (Regulation Z); Use of Digital User Accounts To Access Buy Now, Pay Later Loans'' published by the Bureau of Consumer Financial Protection in the Federal Register on May 31, 2024 (89 Fed. Reg. 47068); and (B) apply subpart B of part 1026 of title 12, Code of Federal Regulations, and part 1026.60 of title 12, Code of Federal Regulations, to issuers of buy now, pay later loans (as defined in subsection (ff) of section 103 of the Truth in Lending Act (15 U.S.C. 1602), as added by this section). <all>
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