,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #hfbh  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #e1 #bjbd,mr4   
,donalds introduc$ ! foll[+ bill2 :i* 0 
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to prohibit !     
,director ( ! ,bureau ( ,consum]        
,f9ancial ,protection f issu+ new rules 
or guidance relat+ to buy n[ pay lat]   
s]vices until ! ,bureau & ! ,comptroll] 
,g5]al ( ! ,unit$ ,/ates ea* conduct a  
/udy on su* s]vices1 & = o!r purposes4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,exam9+ ,consum] ,*oice 9 ,digital    
,paym5ts ,act4  #b4 ,prohibition on     
issu+ new rules or guidance relat+ to   
buy n[ pay lat] s]vices until completion
 ( /udies  7a7 ,9 g5]al ,! ,director ( !
 ,bureau ( ,consum] ,f9ancial           
,protection may n issue any new rule or 
guidance relat+ to buy n[ pay lat]      
s]vices until-- 7#a7 aft] ! reports     
requir$ "u subsections 7b77#b7 & 7c77#b7
 are submitt$ to ! relevant             
congressional committees2 &  7#b7 !     

,bureau has consid]$ ! results ( su*    
reports ) respect to su* new rule or    
guidance4  7b7 ,bureau /udy & report    
7#a7 ,9 g5]al ,! ,director ( ! ,bureau (
 ,consum] ,f9ancial ,protection %all    
conduct a /udy on buy n[ pay lat]       
s]vices to det]m9e-- 7,a7 ! nature1     
size1 & role ( ! entities (f]+ buy n[   
pay lat] s]vices2  7,b7 ! m>ket %>e held
 by ! prim>y nonbank firms & f9ancial   
in/itutions (f]+ buy n[ pay lat]        
s]vices2  7,c7 ! demographics ( consum]s
 mo/ likely to utilize buy n[ pay lat]  
s]vices & = :at purpose2  7,d7 !        
disclosures provid$ to consum]s reg>d+  
buy n[ pay lat] s]vices1 includ+ !      
accessibility & readability ( su*       
disclosures2  7,e7 ! b5efits ( buy n[   
pay lat] s]vices1 includ+-- 7i7 !       
flexibility ( paym5t options2  7ii7 !   
pot5tial = increas$ pur*as+ p[]2 &      
7iii7 competitive product (f]+s2  7,f7 !
 risks ( buy n[ pay lat] s]vices1       
includ+-- 7i7 pot5tial = del9qu5cies &  
prolong$ debt2  7ii7 ! ability ( consum]

 report+ ag5cies to accurately score buy
 n[ pay lat] transactions2 &  7iii7 any 
un9t5d$ consequ5ces = report+ data on   
su* s]vices to consum] report+ ag5cies2 
7,g7 ! preval5ce ( p>tn]%ips betwe5     
entities (f]+ buy n[ pay lat] s]vices & 
traditional f9ancial in/itutions &      
e-comm]ce plat=ms2 &  7,h7 ! pot5tial = 
fraud 9 buy n[ pay lat] s]vices4  7#b7  
,report ,n lat] ?an #a ye> aft] ! date (
 enactm5t ( ?is ,act1 ! ,director ( !   
,bureau ( ,consum] ,f9ancial ,protection
 %all submit to ! relevant congressional
 committees a report t includes !       
results ( ! /udy requir$ by p>agraph    
7#a74  7c7 ,,gao /udy & report ,!       
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all-- 7#a7 conduct a /udy on buy n[ pay
 lat] s]vices-- 7,a7 to det]m9e !       
in=mation specifi$ 9 subp>agraphs 7,a7  
?r\gh 7,h7 ( subsection 7b77#a72 &  7,b7
 t comp>es ! specific features1 b5efits1
 & risks ( us+ su* s]vices to ! use (   
o!r products1 includ+-- 7i7 ov]all debt 
accumulation2  7ii7 ! av]age int]e/ rate

 *>g$ to consum]s2  7iii7 ! range (     
int]e/ rates *>g$ to consum]s2  7iv7 !  
am\nt & type ( fees *>g$ to consum]s    
annually2  7v7 ! cl>ity ( legal         
disclosures associat$ ) su* use2 &  7vi7
 consum] und]/&+ ( paym5t cycles & due  
dates2 &  7#b7 n lat] ?an #a ye> aft] ! 
date ( ! enactm5t ( ?is ,act1 submit to 
! relevant congressional committees a   
report t includes ! results ( ! /udy    
requir$ by p>agraph 7#a74  7d7 ,)drawal 
( int]pretive rule ,! ,director ( !     
,bureau ( ,consum] ,f9ancial ,protection
 %all )drawn ! int]pretive rule titl$   
,tru? 9 ,l5d+ 7,regulation ,z72 ,use (  
,digital ,us] ,acc\nts to ,access ,buy  
,n[1 ,pay ,lat] ,loans 7,may #bb1       
#bjbd71 & su* int]pretive rule %all h no
 =ce or effect4  7e7 ,def9itions ,9 ?is 
section3 7#a7 ,buy n[ pay lat] s]vices  
,! t]m buy n[ pay lat] s]vices means an 
alt]native paym5t me?od t all[s consum]s
 to pay = pur*ases 9 up to #d           
in/allm5ts4  7#b7 ,relevant             
congressional committees ,! t]m relevant

 congressional committees means-- 7,a7 !
 ,committee on ,f9ancial ,s]vices ( !   
,h\se ( ,repres5tatives2 &  7,b7 !      
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs ( ! ,s5ate4