SB3561 - 104th General Assembly (2025-2026)
BUY-NOW-PAY-LATER ACT
Last Action
2/17/2026 - Senate: Assigned to Judiciary
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Buy-Now-Pay-Later Loan Regulation Act. Provides that it is unlawful for a person to act as a buy-now-pay-later lender unless the person registers with the Division of Financial Institutions of the Department of Financial and Professional Regulation. Sets forth requirements for registration; duties and powers of the Secretary of Financial and Professional Regulation; and administrative procedures. Provides that a buy-now-pay-lender shall provide specified disclosures to recipients. Provides that a violation of the Act constitutes an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Amends the Consumer Fraud and Deceptive Business Practices Act to make a conforming change.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/05/2026 | Senate | Filed with Secretary by Sen. Michael E. Hastings |
| 2/05/2026 | Senate | First Reading |
| 2/05/2026 | Senate | Referred to Assignments |
| 2/17/2026 | Senate | Assigned to Judiciary |