Bill would make lenders disclose if buy-now-pay-later loans are reported to credit bureaus
February 26, 2026 | 2026 Legislature Georgia, Georgia
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An unnamed presenter introduced HB 13 14 (LC 620237) to require licensees under the Georgia Installment Lending Act (GILA) to disclose to borrowers whether a loan is reportable to a credit reporting agency.
The presenter described the bill as a consumer-transparency measure inspired by the growth of buy-now-pay-later (BNPL) products. "Under the Georgia Installment Lending Act, if you are making a loan and it's reportable to a credit reporting agency, that you simply tell the consumer that it is in fact reportable," the presenter said. He emphasized the bill would not mandate whether lenders report to credit bureaus, only that borrowers be told when a loan is reportable.
Members asked clarifying questions about scope and burden. One lawmaker noted many GILA loans run "$350 to $750," and the presenter said most BNPL loans under GILA are under $3,000 and that GILA has about 15 licensees offering these products. When asked whether there is a cost to reporting, the presenter acknowledged there are administrative and software costs to report to credit reporting agencies but said he was not certain of exact amounts.
Committee members discussed potential effects: some borrowers might avoid lenders that report to credit bureaus, while others seeking to build credit would prefer lenders that disclose reporting. The presenter and members reiterated the bill would not require reporting or prescribe the method of disclosure; it could be a simple line in documentation.
A motion to move the bill forward was made and seconded; the committee proceeded with a voice-approval process. The transcript records verbal assent but does not include a numerical roll-call tally.
The transcript records references to "Commissioner Hagler" (past engagement) and "Commissioner Fears" (more recent engagement) as individuals the presenter consulted, but those commissioners did not speak during the session. The presenter said his primary inspiration came from BNPL products and discussions with those regulators.
The committee did not record additional floor amendments during the Q&A; members signaled support to advance the bill for further consideration.
The presenter described the bill as a consumer-transparency measure inspired by the growth of buy-now-pay-later (BNPL) products. "Under the Georgia Installment Lending Act, if you are making a loan and it's reportable to a credit reporting agency, that you simply tell the consumer that it is in fact reportable," the presenter said. He emphasized the bill would not mandate whether lenders report to credit bureaus, only that borrowers be told when a loan is reportable.
Members asked clarifying questions about scope and burden. One lawmaker noted many GILA loans run "$350 to $750," and the presenter said most BNPL loans under GILA are under $3,000 and that GILA has about 15 licensees offering these products. When asked whether there is a cost to reporting, the presenter acknowledged there are administrative and software costs to report to credit reporting agencies but said he was not certain of exact amounts.
Committee members discussed potential effects: some borrowers might avoid lenders that report to credit bureaus, while others seeking to build credit would prefer lenders that disclose reporting. The presenter and members reiterated the bill would not require reporting or prescribe the method of disclosure; it could be a simple line in documentation.
A motion to move the bill forward was made and seconded; the committee proceeded with a voice-approval process. The transcript records verbal assent but does not include a numerical roll-call tally.
The transcript records references to "Commissioner Hagler" (past engagement) and "Commissioner Fears" (more recent engagement) as individuals the presenter consulted, but those commissioners did not speak during the session. The presenter said his primary inspiration came from BNPL products and discussions with those regulators.
The committee did not record additional floor amendments during the Q&A; members signaled support to advance the bill for further consideration.
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