I 
119TH CONGRESS 
1ST SESSION H. R. 6891 
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. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 18, 2025 
Ms. ROSS introduced the following bill; which was referred to the Committee 
on Financial Services 
A BILL 
To amend the Truth in Lending Act and the Consumer 
Financial Protection Act of 2010 to apply certain protec-
tions and oversight to buy now, pay later loans, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Buy Now, Pay Later 
Protection Act of 2025’’. 
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SEC. 2. APPLICATION OF THE TRUTH IN LENDING ACT TO 
BUY NOW PAY LATER LOANS. 
(a) IN GENERAL.—The Truth in Lending Act (15 
U.S.C. 1601 et seq.) is amended— 
(1) in section 103, by adding at the end the fol-
lowing: 
‘‘(ff) BUY NOW, PAY LATER LOAN.—The term ‘buy 
now, pay later loan’ means a closed-end consumer loan 
for a retail transaction that— 
‘‘(1) is repaid in not more than 4 interest-free 
installments; and 
‘‘(2) does not impose a finance charge.’’; 
(2) in section 127(a), by striking ‘‘under an 
open end consumer credit plan’’ and inserting 
‘‘under an open end consumer credit plan or a buy 
now, pay later loan’’ each place it occurs; 
(3) in section 127(b), by striking ‘‘under an 
open end consumer credit plan’’ and inserting 
‘‘under an open end consumer credit plan or a buy 
now, pay later loan’’ each place it occurs; 
(4) in section 170— 
(A) in the section heading, by striking 
‘‘RIGHTS OF CREDIT CARD CUSTOMERS.’’ 
and inserting ‘‘RIGHTS
OF
CREDIT
CARD 
CUSTOMERS
AND
BUY
NOW, PAY
LATER 
LOAN CUSTOMERS.’’; 
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(B) in subsection (a)— 
(i) by striking ‘‘a card issuer who has 
issued a credit card to a cardholder pursu-
ant to an open end consumer credit plan’’ 
and inserting ‘‘a card issuer who has 
issued a credit card to a cardholder pursu-
ant to an open end consumer credit plan or 
a creditor who has provided a buy now, 
pay later loan to a consumer’’; 
(ii) by striking ‘‘in which the credit 
card’’ and inserting ‘‘in which the credit 
card or buy now, pay later loan’’; 
(iii) by striking ‘‘honoring the credit 
card’’ and inserting ‘‘honoring the credit 
card or buy now, pay later loan’’ each 
place it occurs; 
(iv) by striking ‘‘provided by the card-
holder’’ and inserting ‘‘provided by the 
cardholder or consumer’’; 
(v) by striking ‘‘defenses against a 
card 
issuer’’ 
and 
inserting 
‘‘defenses 
against a card issuer or creditor’’; 
(vi) by striking ‘‘is the same person as 
the card issuer’’ and inserting ‘‘is the same 
person as the card issuer or creditor’’; 
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(vii) by striking ‘‘is controlled by the 
card issuer,’’ and inserting ‘‘is controlled 
by the card issuer or creditor,’’; 
(viii) by striking ‘‘common control 
with the card issuer’’ and inserting ‘‘com-
mon control with the card issuer or cred-
itor’’; 
(ix) by striking ‘‘in the card issuer’s 
products’’ and inserting ‘‘in the card 
issuer’s or creditor’s products’’; 
(x) by striking ‘‘by the card issuer in 
which’’ and inserting ‘‘by the card issuer 
or creditor in which’’; and 
(xi) by striking ‘‘using the credit card 
issued by the card issuer’’ and inserting 
‘‘using the credit card issued by the card 
issuer or the buy now, pay later loan pro-
vided by the creditor’’; and 
(C) in subsection (b)— 
(i) by striking ‘‘asserted by the card-
holder’’ and inserting ‘‘asserted by the 
cardholder or consumer’’; 
(ii) by striking ‘‘at the time the card-
holder first notifies the card issuer or the 
person honoring the credit card of such 
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claim or defense’’ and inserting ‘‘at the 
time the cardholder or consumer first noti-
fies the card issuer or creditor or the per-
son honoring the credit card or buy now, 
pay later loan of such claim or defense’’; 
and 
(iii) by striking ‘‘the cardholder’s ac-
count’’ and inserting ‘‘the cardholder’s ac-
count or the consumer’s buy now, pay later 
loan account’’; 
(5) in section 161— 
(A) by striking ‘‘in connection with an ex-
tension of consumer credit,’’ and inserting ‘‘in 
connection with an extension of consumer cred-
it, including a buy now, pay later loan,’’ 
(B) in subsection (d), by striking ‘‘an open 
end consumer credit plan’’ and inserting ‘‘an 
open end consumer credit plan or a buy now, 
pay later loan’’; and 
(6) in section 171(a), by striking ‘‘In the case 
of any credit card account under an open end con-
sumer credit plan’’ and inserting ‘‘In the case of any 
credit card account under an open end consumer 
credit plan or buy now, pay later loan’’. 
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(b) RULEMAKING.—The Bureau of Consumer Finan-
cial Protection shall, not later than 1 year after the date 
of this section shall issue such rules as the Bureau of Con-
sumer Financial Protection determines necessary to carry 
out the amendments made by subsection (a). 
SEC. 3. FEDERAL SUPERVISION OF BUY NOW, PAY LATER 
LOAN LENDERS. 
Section 1024(a)(1) of the Consumer Financial Pro-
tection Act of 2010 (12 U.S.C. 5514(a)(1)) is amended— 
(1) in subparagraph (D) by striking ‘‘; or’’ and 
inserting a semicolon; 
(2) in subparagraph (E) by striking the period 
at the end and inserting ‘‘; or’’; and 
(3) by adding at the end: 
‘‘(F) offers or provides to a consumer a 
buy now, pay later loan as such term is defined 
in section 103 of the Truth in Lending Act.’’. 
Æ 
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