Extends consumer protections and federal oversight to 'buy now, pay later' loans.
This bill would give people who use 'buy now, pay later' loans similar consumer protections to those for credit cards. It would also place companies offering these loans under federal oversight, ensuring they follow new rules. This means more transparency and clearer ways to fix problems with your BNPL purchases.
Today, 'buy now, pay later' loans, which are repaid in no more than four interest-free installments, generally do not have the same consumer protections or federal oversight as credit cards. This means consumers have fewer rights to dispute charges or resolve problems, and lenders operate with less federal supervision. If this bill becomes law, these 'buy now, pay later' loans would be covered by many of the same rules as credit cards, giving consumers rights to clear disclosures, dispute billing errors, and raise claims against lenders. Companies offering these loans would also fall under the federal supervision of the Bureau of Consumer Financial Protection.
HR 6891 · 119th Congress · December 18, 2025 · AI Summary by gemini-2.5-flash · 10/10
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