H.R. 9275

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9275 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 9275

To amend the Truth in Lending Act to include buy now, pay later loans 
and issuers of such loans in the definition of credit card and credit 
issuer, respectively, and for other purposes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

June 11, 2026

Mr. Goldman of New York introduced the following bill; which was 
referred to the Committee on Financial Services

_______________________________________________________________________

A BILL

To amend the Truth in Lending Act to include buy now, pay later loans 
and issuers of such loans in the definition of credit card and credit 
issuer, respectively, 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 Consumer 
Protection Act of 2026''.

SEC. 2. BUY NOW, PAY LATER LOANS INCLUDED IN DEFINITION OF CREDIT CARD.

(a) In General.--Section 103 of the Truth in Lending Act (15 U.S.C. 
1602) is amended--
(1) in subsection (l), by adding at the end the following: 
``The term includes a buy now, pay later loan.'';
(2) in subsection (o), by adding at the end the following: 
``The term includes a person who issues a buy now, pay later 
loan.''; and
(3) 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 goods or services that--
``(1) is repaid in not more than 4 interest-free 
installments;
``(2) does not impose a finance charge; and
``(3) is provided to a consumer, at the time such consumer 
seeks to purchase goods or services, to finance the purchase of 
such goods or services.''.
(b) Rulemaking.--
(1) In general.--Not later than 180 days after the date of 
the enactment of this Act, the Bureau of Consumer Financial 
Protection shall issue rules to carry out the amendments made 
by this section.
(2) Requirements.--The rules issued under paragraph (1) 
shall--
(A) be in accordance with the interpretive rule 
entitled ``Truth in Lending (Regulation Z); Use of 
Digital User Accounts To Access Buy Now, Pay Later 
Loans'' published by the Bureau of Consumer Financial 
Protection in the Federal Register on May 31, 2024 (89 
Fed. Reg. 47068); and
(B) apply subpart B of part 1026 of title 12, Code 
of Federal Regulations, and part 1026.60 of title 12, 
Code of Federal Regulations, to issuers of buy now, pay 
later loans (as defined in subsection (ff) of section 
103 of the Truth in Lending Act (15 U.S.C. 1602), as 
added by this section).
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