H. R. 8628, known as the “Examining Consumer Choice in Digital Payments Act,” aims to prevent the Bureau of Consumer Financial Protection from issuing new rules or guidance related to "buy now pay later" services. This restriction will last until both the Bureau and the...
Simple Explanation
In this bill, they want to pause making new rules about "buy now, pay later" services, like when you buy something and pay for it later, until experts study how these services work and if they are good or not. This is like a big timeout so they can learn more before deciding anything new.