CFPB, Interpretive Rules, Policy Statements, and Advisory Opinions; Withdrawal (90 Fed. Reg. 20084, May 12, 2025)

The notice that withdrew the Buy Now Pay Later rule.

It is a list. The BNPL rule appears as item 1 under “Interpretive Rules”, cited exactly as it appears in this notice: “Use of Digital User Accounts to Access Buy Now, Pay Later Loans, 89 FR 47068 (May 31, 2024).” An exact citation match to the rule’s own header, which is what confirms this notice withdraws that specific document.

The stated reason, verbatim: “The Bureau is withdrawing the guidance materials identified in section III for three independent reasons. First, the Bureau is committed to issuing guidance only where that guidance is necessary and would reduce compliance burdens rather than increase them.”

The compliance burden the BNPL rule would have imposed is set out in the rule itself: subpart B of Regulation Z, “including those provisions governing periodic statements and billing disputes.” Telling a borrower what they owe, and letting them contest a charge.

Retrieval note: raw text at https://www.federalregister.gov/documents/full_text/text/2025/05/12/2025-08286.txt.