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Ohio bill would exempt buy-now-pay-later fintech from small-loan licensing, sponsor says
Senate Financial Institutions, Insurance and Technology Committee · September 30, 2025
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Summary
Sen. Lang told the committee SB269 would extend the Small Loan Act exemption that currently applies to banks to fintech companies that arrange buy-now-pay-later bank loans, aligning statute with Department of Commerce guidance and CFPB data cited in testimony.
Senator Lang presented sponsor testimony on Senate Bill 269, explaining the bill would exempt financial-technology companies that arrange "buy now, pay later" (BNPL) loans through banks from Ohio’s Small Loan Act (SLA). He told the committee that the SLA requires nonbank entities to…
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