The Fintech Times

JULY 15, 2024

The American Fintech Council , the industry association representing responsible fintech companies and innovative banks, has welcomed new recommendations regarding buy now, pay later (BNPL) but warns that providers need more time to ensure compliance.

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BNPL Consumer Financial Protection Bureau (CFPB) CFPB Request for Comment 63

The Fintech Times

MAY 22, 2024

The Consumer Financial Protection Bureau (CFPB), a US government agency responsible for protecting consumers in the financial sector, has ruled that buy now, pay later (BNPL) lenders must treat consumers as credit card providers do, ensuring they receive the same key protections. Will BNPL increase the consumer debt burden?

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BNPL Credit Cards Consumer Financial Protection Bureau (CFPB) CFPB 63

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.

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Consumer Financial Protection Bureau (CFPB) Rules BNPL CFPB 52

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.

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Consumer Financial Protection Bureau (CFPB) Disputes BNPL Returns 41

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. Today’s action will help bring consistency to this market. Importantly, these cover dispute and refund rights.

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Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 97

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

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.

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SWIFT Cross-Border Payments Cross-Border CFPB 56

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.

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Regulations BNPL Consumer Financial Protection Bureau (CFPB) FinTech 64

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