1. United States
2. N.Y.
3. Letter

I'm asking you to support legislation establishing a Buy Now, Pay Later Bill of Rights in New York State. These services have exploded in popularity, but consumers lack basic protections that exist for credit cards and other lending products. Buy Now, Pay Later companies operate in a regulatory gray zone. They don't report to credit bureaus, which means consumers can rack up debt across multiple platforms without any visibility into their total obligations. There's no income verification, no ability assessment, and minimal disclosure requirements. This creates real risk for New Yorkers who may overextend themselves without realizing it until they're facing cascading late fees. A Bill of Rights should require transparent fee disclosure, mandate affordability checks, ensure credit reporting to prevent hidden debt accumulation, and provide dispute resolution processes similar to those for credit cards. These are common-sense guardrails that protect consumers without eliminating access to these payment options. New York has an opportunity to lead on this issue before more residents fall into debt traps. I need you to champion consumer protections for Buy Now, Pay Later services this session.