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American Fintech Council (AFC) Responds to Consumer Financial Protection Bureau (CFPB) Interpretive Rule on Buy Now Pay Later

Fintech Finance

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.

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AFC Praises New BNPL Recommendations, But Warns That Providers Need ‘Additional Time’ to Comply

The Fintech Times

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.

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Treasury Pushback On Financial Regulation?

PYMNTS

Perhaps the most visible rollback would come with a truncating of the Consumer Financial Protection Bureau (CFPB)’s regulatory powers. ” As far as the CFPB is concerned, things proceed apace, as the bureau has issued a request for comment on proposed changes to rules on prepaid accounts. .