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

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

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.

OCC 59

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

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. Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards.

Disputes 91

Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 91

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

Finovate

DECEMBER 13, 2023

the Consumer Financial Protection Bureau (CFPB) has been studying the BNPL industry since at least late 2021. At the same time, the agency has also acknowledged a number of potential issues: discrete consumer harms, data harvesting, and overextension. The only question was when. In the U.S.,

Regulations 64

Regulations BNPL Consumer Financial Protection Bureau (CFPB) FinTech 64

FICO

JANUARY 5, 2023

Policy Predictions for Financial Services Companies. 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. For those in the financial services industry, 2023 will be the year when U.S. Four 2023 U.S. FICO Admin.

BNPL 52

BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52