On May 6, several Senate Democrats sent letters to three nationwide consumer reporting agencies (CRAs) requesting detailed information about how Buy Now, Pay Later (BNPL) loans are being handled in consumer reporting. The letters, led by Senator Elizabeth Warren (D‑MA), follow a prior set of information requests made in November 2025 to BNPL providers about whether and how they furnish BNPL data to CRAs.
The Senators note that BNPL usage has grown rapidly in recent years, including for everyday expenses and among consumers who may hold multiple BNPL loans at once. According to the letters, most BNPL providers that responded to the earlier inquiry reported that they do not automatically furnish BNPL data, citing concerns about how such data might be interpreted, how returns and disputes would be handled, and the potential impact on consumers’ credit scores. At the same time, the Senators observe that the major CRAs have publicly indicated they can receive BNPL data and are at various stages of incorporating that data into consumer reports, and that all three currently receive BNPL information from at least one provider.
Against that backdrop, the letters seek clarity on current CRA practices. The Senators ask which BNPL companies are furnishing data and what specific data elements are provided; whether and how BNPL information is included in consumer reports and credit scores (including how multiple BNPL loans are reported, how frequently data is updated, and how returns or disputes are treated); how BNPL products are classified given their mix of installment and revolving features; and how the Metro 2 reporting format affects the ability to receive BNPL data. The letters also request information on how CRAs handle situations where a firm offers multiple credit products but reports only a subset of them, and whether any studies have been conducted on the impact of including BNPL data on consumers’ credit scores. Responses are requested by May 18, 2026.
Our Take
This latest inquiry highlights continued policy and supervisory interest in how BNPL products fit within the existing consumer reporting ecosystem. BNPL providers, lenders that consider BNPL usage in underwriting, and other market participants should monitor these developments closely, as the dialogue between policymakers, providers, and CRAs will help shape future expectations around whether, when, and how BNPL activity is reflected in consumer credit files and scoring models.