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ARTICLE · 02 APRIL 2025

CFPB To Withdraw BNPL Interpretive Rule Amid Broader Agency Rollback

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The CFPB has announced plans to withdraw its May 2024 interpretive rule that subjected buy-now, pay-later (BNPL) products to regulations applicable to credit cards under the Truth in Lending Act (TILA).

United StatesFinance and Banking
A.J. Dhaliwal
A.J. Dhaliwal
Mehul Madia
Mehul Madia
Maxwell Earp-Thomas
Maxwell Earp-Thomas
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The CFPB has announced plans to withdraw its May 2024 interpretive rule that subjected buy-now, pay-later (BNPL) products to regulations applicable to credit cards under the Truth in Lending Act (TILA). The move was revealed in court filing in the CFPB's ongoing litigation with a fintech-focused trade organization which challenged the rule as procedurally improper and ill-suited to short-term, interest-free BNPL loans.

The interpretive rule, issued under former Director Rohit Chopra, would have extended traditional credit card protections—such as dispute rights and refund guarantees—to BNPL offerings (previously discussed here). The parties jointly requested to stay the case pending revocation of the rule.

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