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.

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

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.”

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

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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.

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Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 78

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.

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

Finovate

DECEMBER 13, 2023

the EU’s AI Act is set to become law early next year. the Consumer Financial Protection Bureau (CFPB) has been studying the BNPL industry since at least late 2021. At this point, much of the CFPB’s impact on BNPL has been minimal. Unlike policy in the U.S., In the U.S.,

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Regulations BNPL Consumer Financial Protection Bureau (CFPB) FinTech 63

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.

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BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52