S3561Referred to Committee
Buy Now, Pay Later Protection Act of 2025
Introduced
In Committee
3
Passed One Chamber4
Passed Both5
Signed into Law119th
Congress
2025-12-18
Introduced
4
Cosponsors
S
ⓘType
Sponsor
Jack Reed
Democrat · RI · Senator
Votes with party: 58.0% (319 recorded votes)
Full profile: /officials/R000122
Source: Congress.gov · FEC
Cosponsors (4)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S8923)
2025-12-18
Source: Congress.gov
Plain-English Summary
This bill would establish new federal rules for "buy now, pay later" services—companies that let shoppers split purchases into installments without using a credit card—to ensure they follow consumer protection standards similar to traditional credit products. The legislation would likely require these companies to disclose fees and interest rates clearly, limit unfair practices, and give consumers rights like the ability to dispute charges, affecting both the companies offering these services and the millions of Americans using them to make purchases.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Subjects
Finance and Financial Sector
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