BNPL Consumer Financial Protection Bureau (CFPB) Credit Cards 
Fintech Finance
JULY 15, 2024
Regulatory clarity and consistent standards are critical for providers offering safe, transparent and responsible financial services and even more important for consumers who expect protections when utilizing financial services including Buy Now Pay Later,” said Phil Goldfeder, Chief Executive Officer of AFC.
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.
Neopay
MAY 28, 2024
Consumer Financial Protection Bureau (CFPB) issued a new interpretation under the existing Truth in Lending Act. Regardless of whether a shopper swipes a credit card or uses Buy Now, Pay Later, they are entitled to important consumer protections under longstanding laws and regulations already on the books.”
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.
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.
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.
PYMNTS
JANUARY 7, 2021
“Missed payments reported are down, consumer debt levels are decreasing and the significant steps taken by both the government [with] stimulus spending and private sector [with] lender payment accommodations to help consumers affected by COVID-19 are all contributing to this trend in average score,” said Tom Quinn, vice president of scores for FICO.
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