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H.R. 6891119th CongressIn committeeLatest action Dec 18, 2025Decoded by AI · checked against the record
Official title: Buy Now, Pay Later Protection Act of 2025
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
The bill would extend Truth in Lending Act protections and CFPB oversight to buy now, pay later loans.
45-second read · 4 questions answered below
This bill extends federal consumer protection rules under the Truth in Lending Act to "buy now, pay later" loans, defined as purchase loans repaid in four or fewer interest-free payments. It gives buy now, pay later users rights similar to credit card holders, such as disputing charges and withholding payment over purchase problems, and requires the CFPB to write implementing rules within a year and gain supervisory authority over these lenders.
Consumers who use buy now, pay later services like Klarna, Afterpay, and Affirm for purchases; and fintech firms and payment apps that offer these loans and would face new federal oversight.
Consumers would gain formal dispute and billing protections they currently lack with these loans. Companies offering buy now, pay later loans would face new compliance requirements and CFPB examination similar to banks and credit card issuers.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Referred to the House Committee on Financial Services.