Buy Now, Pay Later Protection Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 6891 Introduced in House (IH)] <DOC> 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 protections and oversight to buy now, pay later loans, and for other purposes. Be it enacted by the Senate and House of Representatives 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''. 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 following: ``(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 cus