Buy Now Pay Later Consumer Protection Act of 2026

This bill expands the definition of credit cards under federal law to include specific "buy now, pay later" loans that are repaid in four or fewer interest-free installments. By making this change, the legislation brings these short-term financing options under the same consumer protection rules that currently apply to credit card issuers. The Consumer Financial Protection Bureau is required to issue new regulations within 180 days to enforce these standards, ensuring that companies offering these loans follow established disclosure and operational guidelines.