Allows Buy Now, Pay Later Loans Without Oversight

Official: A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans".

IntroducedMarch 18, 2026

Finance and Financial SectorAdministrative law and regulatory proceduresCongressional oversightBank accounts, deposits, capitalConsumer Financial Protection BureauInternet, web applications, social mediaConsumer affairs

Why This Matters

This resolution nullifies a rule that aimed to regulate how lenders offer Buy Now, Pay Later loans through digital accounts, removing important consumer protections.

If you use Buy Now, Pay Later loans, this resolution could mean less transparency and higher costs for you.

Affects: This resolution affects consumers who use Buy Now, Pay Later loans and the lenders that provide them.

What does this resolution do?

1. This resolution stops a rule that would have held lenders accountable for Buy Now, Pay Later loans. 2. Without this rule, lenders may not have to provide clear information about loan terms and fees. 3. Consumers could face higher costs and less protection when using digital accounts for loans. 4. The resolution removes requirements for lenders to send periodic statements or address billing disputes.

Who is affected?

This resolution affects consumers who use Buy Now, Pay Later loans and the lenders that provide them.

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