To amend the Truth in Lending Act to include buy now, pay later loans and issuers of such loans in the definition of credit card and credit issuer, respectively, and for other purposes.
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Summary
Based on the bill's title, this legislation would amend the Truth in Lending Act to classify buy now, pay later (BNPL) loans and their issuers as credit cards and credit card issuers, respectively. This would extend federal credit card regulations and consumer protections to the BNPL lending market. The bill's specific provisions and enforcement mechanisms are not available from the title alone.
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