Payments Dive

JUNE 7, 2023

“As the CFPB prepares to release new regulatory guidance on BNPL providers, it is important that any new regulations do not stifle the industry's growth and limit its availability,” writes one checkout services CEO.

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BNPL Regulations CFPB 78

Neopay

MAY 28, 2024

Consumer Financial Protection Bureau (CFPB) issued a new interpretation under the existing Truth in Lending Act. The BNPL market boomed as e-commerce orders exploded during the pandemic; fashion is one of the top categories for which consumers use these services. That’s not to say there hasn’t been pushback.

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BNPL Credit Cards Consumer Financial Protection Bureau (CFPB) Regulations 52

Payments Dive

SEPTEMBER 16, 2022

The Consumer Financial Protection Bureau is weighing new rules and guidance for the fast-growing buy now-pay later industry after wrapping up a comprehensive report on it.

Rules 158

Rules CFPB BNPL Consumer 158

Fintech News

DECEMBER 20, 2023

Buy now, pay later (BNPL) arrangements, a type of short-term financing that allows customers to make purchases and pay for them in monthly installments, are growing strongly around the world, picking up steam among both customers and merchants. million in 2023. million in 2023.

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BNPL Consumer Financial Protection Bureau (CFPB) Settlement Non-Bank 97

Payments Dive

MARCH 30, 2022

"The CFPB should tailor its approaches to preserve consumers’ and merchants' ability to access a wide variety of installment options and maintain competition among BNPL solutions," Visa said in commenting to the Consumer Financial Protection Bureau.

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BNPL CFPB Regulations Consumer 97

Finextra

MAY 23, 2024

The US Consumer Financial Protection Bureau's new rule on buy now, pay later lenders has received a mixed reception from industry players, with Affirm welcoming the outcome but rival Klarna calling it "baffling".

Rules 75

Rules CFPB BNPL Consumer 75

The Paypers

MAY 22, 2024

The Consumer Financial Protection Bureau ( CFPB ) has issued an interpretive rule to ensure federal control over Buy Now, Pay Later (BNPL) returns and disputes in the US.

Consumer Financial Protection Bureau (CFPB) 41

Consumer Financial Protection Bureau (CFPB) Disputes BNPL Returns 41

Payments Dive

APRIL 19, 2023

A Consumer Financial Protection Bureau official pointed to how buy now, pay later providers handle consumer disputes as a major area of concern for the agency.

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Disputes CFPB Consumer BNPL 88

Finextra

APRIL 14, 2024

US and European officials have begun an "informal dialogue" on consumer financial protection issues, focusing on the rise of Big Tech in payments; the use of AI in lending; and the emergence of buy now, pay later.

AI 115

AI Consumer CFPB BNPL 115

Fintech Finance

MAY 24, 2024

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule that confirms that Buy Now, Pay Later lenders are credit card providers. The CFPB began studying the Buy Now, Pay Later industry in 2021. Last year, the CFPB published its findings on the financial profiles of Buy Now, Pay Later borrowers.

Disputes 91

Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 91

Finextra

MAY 22, 2024

The US Consumer Financial Protection Bureau has ruled that buy now, pay later lenders should be treated in the same way as credit cards.

Credit Cards 122

Credit Cards Rules CFPB BNPL 122

Bank Automation

JUNE 4, 2024

The rule, published May 22 to take effect 60 days later, “makes the model more sustainable because [BNPL] has been around for a long time, it has […] The new Consumer Financial Protection Bureau rule putting buy now, pay later providers in the same category as credit card issuers can fuel the industry’s growth, experts say.

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BNPL Rules Card Issuer Credit Cards 80

FICO

OCTOBER 7, 2022

Buy Now, Pay Later: BNPL Fraud and Regulatory Update. Buy now, pay later or BNPL financing is experiencing tremendous growth, but that growth can bring potential growing pains like fraud and regulatory scrutiny. Even more dramatic, PayPal, a relatively late arrival to the party, saw its BNPL volumes soar 226% year over year.

BNPL 52

BNPL Account Takeovers CFPB Consumer Financial Protection Bureau (CFPB) 52

Finovate

JUNE 6, 2024

Late last month, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule stating that Buy Now, Pay Later (BNPL) lenders are credit card providers. This ruling is slated to have some significant impact on BNPL, which was once one of the hottest subsectors in fintech. territories.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Rules BNPL CFPB 52

Payments Dive

JUNE 16, 2022

The agency isn’t pleased about the three big credit reporting bureaus taking different approaches to tracking consumer data for buy now-pay later financing.

CFPB 88

CFPB BNPL Finance Consumer 88

Payments Dive

MARCH 28, 2022

Proponents and opponents of buy now-pay later services are weighing in on how the new installment financing should be regulated after the Consumer Financial Protection Bureau asked for input. The federal agency is absorbing the views as it conducts an inquiry into the industry's business practices.

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CFPB Consumer BNPL Regulations 97

The Paypers

DECEMBER 20, 2021

The US Consumer Financial Protection Bureau (CFPB) has announced that it’s launching a probe against five companies offering Buy Now, Pay Later (BNPL) services.

Consumer Financial Protection Bureau (CFPB) 41

Consumer Financial Protection Bureau (CFPB) BNPL CFPB Consumer 41

Global Fintech & Digital Assets

DECEMBER 21, 2023

The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending. The OCC expects that banks engaged in BNPL lending “do so within a risk management system that is commensurate with associated risks.” By Arthur S.

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OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

The Paypers

SEPTEMBER 19, 2022

The Consumer Financial Protection Bureau has issued a report suggesting that Buy Now, Pay Later companies must be subjected to stricter oversight.

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CFPB BNPL Regulations Consumer 36

Fintech Finance

APRIL 29, 2024

Over the last several years, e-commerce customers have grown increasingly familiar with “ Buy Now, Pay Later ” (BNPL) options at checkout – the retail equivalent of installment plans. “Our mutual clients have expressed interest in making the premium finance transaction a more seamless experience.

Finance 52

Finance BNPL Enrollments CFPB 52

Finovate

DECEMBER 4, 2023

In regards to open banking, the CFPB released its notice of proposed rulemaking to implement Section 1033 of Dodd-Frank earlier this year and made clear that it will issue the final regulation in the fall of 2024. As consumers rely on BNPL payment technologies as an alternative to traditional credit models, regulators in both the U.S.

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Metaverse FinTech Embedded Finance AI 130

FICO

AUGUST 19, 2022

Buy now, pay later (BNPL) has exploded in popularity over the last few years. According to Cornerstone Advisors consumer surveys , the percentage of Gen Zers making purchases with BNPL plans grew six-fold between 2019 and 2021. This makes BNPL a dangerous competitor to banks’ payment and unsecured lending products.

Credit Union 52

Credit Union FinTech BNPL Online and Mobile Banking 52

PYMNTS

DECEMBER 2, 2020

In the Buy Now Pay Later Tracker, Daniel Demsky, co-founder of all-wool clothing retailer Unbound Merino, details how his company is leveraging BNPL to help make high-end items more accessible to consumers — and high cart totals more palatable. CFPB Clarifies Position On Earned Wage Access Policy; Says Programs Are Not An Extension Of Credit.

SWIFT 56

SWIFT Cross-Border Payments Cross-Border CFPB 56

Fintech Labs Insights

FEBRUARY 9, 2024

mo Klarna 24 Jan BNPL Consumer CNBC Bilt Rewards doubles valuation to $3.1B Bilt Rewards 24 Jan Credit cards Consumer Techcrunch Klarna is first BNPL service with subscription ($7.99/mo

Product 15

Product FinTech BNPL Credit Cards 15

PYMNTS

JANUARY 7, 2021

Add in one the soon to be two injections of cash via federal direct stimulus payments to middle- and low-income households, as well as a general preference within certain demographics to use other means of payment, such as buy now, pay later (BNPL), and the balance declines and commensurate FICO score hikes start to make more sense.

Credit Cards 94

Credit Cards Consumer Financial Protection Bureau (CFPB) Federal Reserve CFPB 94

FICO

SEPTEMBER 27, 2021

Gartner’s classification is comprised from CFPB financial well-being scores. They have seen the popularity of Buy Now Pay Later (BNPL). 90% BNPL purchases by GenZ consumers are $500 or less. BNPL is akin to a small dollar loan. Consider the following question, “How do you define the market size?”.

Credit Risk 52

Credit Risk BNPL Credit Cards Assessments 52

Finovate

DECEMBER 13, 2023

the Consumer Financial Protection Bureau (CFPB) has been studying the BNPL industry since at least late 2021. As such, the CFPB has recognized a number of key benefits BNPL provides relative to traditional credit products, especially with regard to the absence of interest payments, ease of access, and simple repayment structure.

Regulations 64

Regulations BNPL Consumer Financial Protection Bureau (CFPB) FinTech 64

Payments Dive

DECEMBER 19, 2023

Three Democratic lawmakers worried about financially vulnerable consumers during the holiday shopping season urged the Consumer Financial Protection Bureau to keep an eye on buy now, pay later offerings.

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CFPB BNPL Consumer 88

FICO

JANUARY 5, 2023

Open banking, BNPL, cybersecurity and AI will all be under the microscope for regulators and policymakers, but not all areas will see major action in 2023. The CFPB's New Open Banking Proposal Will Accelerate Exciting Product Innovations. There Will be Changes in the BNPL Market, but Major Regulatory Action Is at Least a Year Away.

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BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52