New York Democrat Dan Goldman has introduced a bill that would give BNPL users the same legal protections credit-card holders get, an area where they currently have no federal safeguards. The Buy Now, Pay Later Consumer Protection Act would require BNPL providers to spell out fees clearly, send periodic statements, give borrowers a window to pay before they're hit with late fees or dinged on their credit, and grant dispute rights like refunds on returns and protection from unauthorized charges. The bill follows the Trump administration's reversal of a 2024 CFPB rule that would have regulated BNPL loans like credit cards, which had left users without federal protection. Goldman said the bill responds to more Americans leaning on BNPL for everyday costs, and the National Consumers League has backed it.
