Introduced in House — H.R. 9275

119th CONGRESS

2d Session

H. R. 9275

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.

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).