Buy Now, Pay Later Protection Act of 2025

# Buy Now, Pay Later Protection Act of 2025 - Summary **What the Bill Would Do** This bill aims to regulate "buy now, pay later" (BNPL) services—payment plans that let consumers purchase items and pay for them in installments without upfront costs. Currently, these services operate with minimal federal oversight. The bill would bring BNPL companies under consumer protection rules similar to those governing credit cards and traditional lenders, likely including requirements around interest rates, fees, disclosure of terms, and protections against unfair practices. **Who It Affects** The bill would impact millions of consumers who use BNPL services (like Affirm, Klarna, and AfterPay), the companies providing these services, and retail businesses that offer them as payment options. Proponents argue consumers need better protections since BNPL agreements can carry hidden fees or lead to debt traps.

Critics in the industry argue strict regulation could limit access to credit for people with lower credit scores. **Current Status** As of now, the bill (HR 6891) remains in committee and has not advanced to a full House vote. It was introduced by Representative Deborah Ross (D-NC) in the 119th Congress. No additional details about specific provisions or co-sponsors are currently available.