What is the current status of SJRES 134?

SJRES 134 is currently: In Senate.

Who sponsored SJRES 134?

SJRES 134 was sponsored by Jack Reed (D), Sen.

Restores Buy Now, Pay Later Billing Protections

IntroducedMarch 18, 2026

In Senate5 months ago

Intro

Senate

House

Pres

The House voted against taking this up.

It stays where it is unless leadership tries again.

Finance and Financial SectorAdministrative law and regulatory proceduresBank accounts, deposits, capitalCongressional oversightConsumer Financial Protection BureauConsumer affairsInternet, web applications, social media

Why This Matters

This resolution cancels the Consumer Financial Protection Bureau's 2025 decision to drop its guidance on Buy Now, Pay Later loans. That brings back the 2024 guidance, which says these lenders must follow the same billing and dispute rules as credit card companies.

If you pay in installments through an app and get charged for an item that never arrived or that you returned, federal guidance would again say you have credit-card-style rights to dispute the charge and get your money back.

Who this affects

Buy Now, Pay Later shoppers · Installment payment app companies · Online retail customers

What does this resolution do?

1In May 2025, the Consumer Financial Protection Bureau withdrew its May 2024 guidance; if passed and signed, this cancels that withdrawal and revives the guidance.
2The revived guidance treats Buy Now, Pay Later lenders that use apps or online accounts as credit card issuers under federal truth-in-lending rules.
3Those lenders would again be expected to investigate disputed charges, handle refunds for returned purchases, and send periodic billing statements, as credit card companies must.
4Under the Congressional Review Act, the Bureau could not issue a substantially similar withdrawal again unless Congress later authorizes it.

Read full document

Last changed today · checked hourly

Restores Buy Now, Pay Later Billing Protections

IntroducedMarch 18, 2026

In Senate5 months ago

Intro

Senate

House

Pres

The House voted against taking this up.

It stays where it is unless leadership tries again.

Why This Matters

Who this affects

Buy Now, Pay Later shoppers · Installment payment app companies · Online retail customers

What does this resolution do?

1In May 2025, the Consumer Financial Protection Bureau withdrew its May 2024 guidance; if passed and signed, this cancels that withdrawal and revives the guidance.
2The revived guidance treats Buy Now, Pay Later lenders that use apps or online accounts as credit card issuers under federal truth-in-lending rules.
3Those lenders would again be expected to investigate disputed charges, handle refunds for returned purchases, and send periodic billing statements, as credit card companies must.
4Under the Congressional Review Act, the Bureau could not issue a substantially similar withdrawal again unless Congress later authorizes it.

Read full document

Last changed today · checked hourly