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CFPB focuses on BNPL consumer disputes

Payments Dive

A Consumer Financial Protection Bureau official pointed to how buy now, pay later providers handle consumer disputes as a major area of concern for the agency.

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The Ultimate Guide to Ecommerce Payment Solutions

Stax

Key features to look for in an eCommerce payment solution include security and fraud protection, payment method variety, integration capabilities, chargeback protection and dispute resolution, and global payment support. Chargeback protection and dispute resolution Most business owners view chargebacks as a cost of doing business.

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CFPB Takes Action to Ensure Consumers Can Dispute Charges and Obtain Refunds on Buy Now, Pay Later Loans

Fintech Finance

These include a right to dispute charges and demand a refund from the lender after returning a product purchased with a Buy Now, Pay Later loan. The CFPB launched its inquiry into the rapidly expanding Buy Now, Pay Later market more than two years ago and continues to see consumer complaints related to refunds and disputed transactions.

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US Consumer Watchdog Decision Offers BNPL Users Credit Card-Level Protections

The Fintech Times

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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Buy Now, Pay Later to Be Regulated Like Other Credit Products in Australia

Fintech News

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). billion to GDP.

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Federal control to be applied on BNPL returns and disputes

The Paypers

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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US moves to regulate BNPL the same as credit cards

Neopay

It states that BNPL (buy now, pay later) companies must provide the same protections for consumers as conventional credit card companies, including investigating disputes, providing periodic billing statements and refunding returned products or voided transactions. That’s not to say there hasn’t been pushback.