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Code · BILL · 119th Congress · S. 3561 (Introduced in Senate) — To amend the Truth in Lending Act and the Consumer Financial Protection Act of 2010 to apply certain protections and... · Sec. 3

Sec. 3. Federal supervision of buy now, pay later loan lenders

78 words·~1 min read·/bill/119/s/3561/is/section-3

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Section 1024(a)(1) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5514(a)(1) ) is amended— in subparagraph (D), by striking ; or and inserting a semicolon; in subparagraph (E), by striking the period at the end and inserting ; or ; and by adding at the end: offers or provides to a consumer a buy now, pay later loan, as defined in section 103 of the Truth in Lending Act ( 15 U.S.C. 1602 ). .
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Sec. 3
Federal supervision of buy now, pay later loan lenders
U.S.C.§ 5514
U.S.C.§ 1602
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