Buy Now, Pay Later Protection Act of 2025
Sponsored By: Senator Sen. Reed, Jack [D-RI]
Introduced
Summary
Brings buy now, pay later loans under the same federal consumer-credit rules that apply to credit cards. The bill amends the Truth in Lending Act and the Consumer Financial Protection Act to define BNPL, extend key disclosure and billing protections, and place BNPL lenders under CFPB supervision.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Protections for buy now, pay later
If enacted, this bill would define a buy now, pay later loan. It would be a closed-end retail loan repaid in no more than four interest-free installments and that charges no finance fee. If enacted, these loans would be covered by the Truth in Lending Act so consumers would get the same disclosure, billing dispute, and liability protections that apply to credit cards. The Consumer Financial Protection Bureau would have one year after enactment to write rules to implement these changes. Those coverage changes would take effect when the law is enacted.
Federal oversight for buy now pay later
If enacted, companies that offer buy now, pay later loans would be supervised by the Consumer Financial Protection Bureau. The Bureau could examine those firms and enforce consumer finance rules against them. This change would take effect when the law is enacted.
Free Policy Watch
You just read the policy. Now see what it costs you.
Pick a topic. PRIA runs your household against live legislation and sends you a free personalized readout.
Pick a topic to get started
Sponsors & CoSponsors
Sponsor
Sen. Reed, Jack [D-RI]
RI • D
Cosponsors
Chris Van Hollen
MD • D
Sponsored 12/18/2025
Richard Blumenthal
CT • D
Sponsored 12/18/2025
Kirsten Gillibrand
NY • D
Sponsored 12/18/2025
Sen. Warren, Elizabeth [D-MA]
MA • D
Sponsored 2/9/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.govTake It Personal
Get Your Personalized Policy View
Take the PRIA Score to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in