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".
About This Bill
Committee
Latest Action · March 18, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This joint resolution uses Congress's authority under the Congressional Review Act to block the Consumer Financial Protection Bureau from withdrawing a rule about "buy now, pay later" loans accessed through digital accounts. The original rule, issued in May 2024, required these popular short-term lending services to follow the same Truth in Lending Act disclosure requirements as traditional credit cards, ensuring consumers receive clear information about costs and terms. The CFPB later withdrew this rule in May 2025, but Congress now seeks to disapprove that withdrawal action. If passed, this resolution would restore the original consumer protection rule, affecting millions of Americans who use buy now, pay later services from companies like Affirm, Klarna, and Afterpay. The resolution was introduced in March 2026 and placed on the Senate calendar in April 2026 after being discharged from committee through a petition process.
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