The Payments Association

AUGUST 14, 2024

Regulatory changes in BNPL, cVRPs, and digital wallets aim to boost e-commerce innovation and competition while safeguarding consumer protection and market stability. Read more

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BNPL Consumer Protection Payments Innovation 88

Payments Dive

MAY 21, 2024

“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,” CFPB Director Rohit Chopra said.

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CFPB Credit Cards BNPL Consumer Protection 97

The Fintech Times

FEBRUARY 15, 2024

While buy now, pay later (BNPL) has enjoyed significant growth in recent years, an air of uncertainty remains around the space – whether that be due to a degree of untrust (seen by some as a debt trap ) or because of increased regulatory pressures being placed on the space. To find out more, we reached out to some industry experts.

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BNPL Regulations B2B Continuity 68

Fintech News

JUNE 5, 2024

Australia will introduce new legislation to amend the Credit Act, requiring Buy Now, Pay Later (BNPL) providers to hold an Australian credit license and comply with existing credit laws regulated by the Australian Securities and Investments Commission (ASIC). The new laws aim to balance consumer protection with innovation and competition.

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Regulations BNPL Product Consumer Protection 105

The Fintech Times

FEBRUARY 27, 2024

Having looked at some of the biggest technologies to impact the payments world, like buy now pay later (BNPL) and central bank digital currencies (CBDCs) , we now look to the future and what the next trend may be.

Consumer Protection 68

Consumer Protection Stablecoins Payments Trends Consumer 68

The Paypers

MAY 17, 2022

The Central Bank of Ireland has widened its consumer protection rules to cover Buy Now, Pay Later (BNPL) companies.

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Central Bank BNPL Consumer Protection Rules 69

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. “We

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Consumer Financial Protection Bureau (CFPB) CFPB Rules BNPL 95

Payments Dive

MARCH 21, 2022

A report this month from the organization outlines a litany of complaints about buy now-pay later, such as hidden fees, and suggests the industry is trying to evade consumer protection laws.

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Consumer BNPL Consumer Protection Laws 97

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

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

Fintech Finance

JULY 23, 2024

Alternative payment methods like digital wallets, account-to-account (A2A), and buy now, pay later (BNPL) continue to gain popularity. Anil Nanda, Partner and UK & Europe Head of Payments said: “The payments industry is undergoing significant change and disruption.

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Consulting Alternative Payment Methods Payments BNPL 97

The Fintech Times

MARCH 16, 2024

Phil Goldfeder, CEO, AFC “Under the guise of consumer protection, these bills in Rhode Island and DC will harm consumers who need access to safe and affordable financial services and will put local state-chartered banks at a disadvantage,” said Phil Goldfeder , chief executive officer of AFC.

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Community Banks Consumer Protection Regulatory Compliance FinTech 58

The Fintech Times

APRIL 18, 2024

The PSR’s chief aim is to improve consumer protection, and it will introduce changes to the existing open banking framework to improve access to these services. Let’s take lenders, BNPL providers and other credit providers as an example. The PSR The PSR is intended to update and replace the parts of PSD2 not covered in PSD3.

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Non-Bank Push-to-Card Payments API 63

The Fintech Times

APRIL 16, 2024

” Is BNPL finally getting regulated? The long debated topic of buy now pay later (BNPL) regulation was discussed on stage at IFGS, with a panel of key industry players discussing how, despite industry feedback, BNPL regulation is still on hold.

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Regulations BNPL FinTech Governance 63

PYMNTS

DECEMBER 31, 2020

As much as a click from the Kardashians helped spread the brand awareness and jump-start his company, Molnar said, as a spending trend among young consumers set the stage for BNPL's success. There are a number of things that intersect here: data, privacy, consumer protection. These are not easy issues.”.

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Innovation Payments Shutdown On-Demand 115

Fintech Finance

MAY 24, 2024

“When consumers check out and choose Buy Now, Pay Later, they don’t know if they will get a refund if they return their product or whether the lender will help them if they didn’t get what was promised,” said CFPB Director Rohit Chopra. The Buy Now, Pay Later market has expanded rapidly over the past few years.

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Disputes CFPB Consumer Financial Protection Bureau (CFPB) Consumer 93

The Fintech Times

MARCH 5, 2024

million consumers and MSMEs through the platform. This business case was also awarded the Best BNPL solution at Finovate in 2023. They are implementing policies and regulations that promote innovation while ensuring consumer protection and financial stability. Just in 2023 Yabx disbursed over 20 million loans to 2.4

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Financial Literacy Financial Inclusion Underserved FinTech 63

Fintech Finance

JANUARY 19, 2024

The growth in the forecast period can be attributed to expansion of bnpl services to physical retail, growth in cross-border e-commerce, adoption by traditional retailers, emphasis on responsible lending and consumer protection, rise of embedded finance and bnpl as a service.

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BNPL Online and Mobile Banking Embedded Finance Cross-Border 52

Finovate

DECEMBER 13, 2023

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. There has some concern at the state level , with state attorneys general voicing consumer protection warnings. In the U.S.,

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Regulations BNPL Consumer Financial Protection Bureau (CFPB) FinTech 64

PYMNTS

DECEMBER 11, 2020

Democrats and Republicans are going after this from different angles, he noted, but they’re all targeting Big Tech firms in the name of consumer protection – even though that’s protection that consumers don’t really seem to want. “I He said that going after Big Tech is increasingly becoming a bipartisan issue.

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FTC BNPL Payments Federal Trade Commission 75

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. There Will be Changes in the BNPL Market, but Major Regulatory Action Is at Least a Year Away. Consumers will likely see more transparency from industry participants going forward.

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BNPL CFPB Consumer Financial Protection Bureau (CFPB) Privacy 52