New York races to pass BNPL bill

June 6, 2024

New York State lawmakers are negotiating three different proposals to regulate the buy now, pay later industry, in an attempt to pass legislation before the end of the session on Thursday, said Paul Alexander, legislative director for State Sen. James Sanders Jr., during a phone call on Wednesday.

Sanders, a Democrat, introduced the third and latest proposal to regulate BNPL providers in a Senate bill last month, following an Assembly bill introduced in March by Democratic Assembly Member Pamela Hunter and a proposal included in the executive budget in January from Democratic Gov. Kathy Hochul.

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