Remove Consumer Financial Protection Bureau (CFPB) Remove Request for Comment Remove Rules
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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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American Fintech Council responds to CFPB buy now, pay later rules

Finextra

The American Fintech Council (AFC), the fastest growing premier industry association representing responsible fintech companies and innovative banks, submitted its response to the Consumer Financial Protection Bureau (CFPB) on the proposed Interpretive Rule and Request for Comment on the Use of Digital User Accounts to Access Buy Now, Pay Later Loans. (..)

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

The Fintech Times

The new proposed interpretive rule would ensure that nonbank financial companies adhere to the same credit card lending rules as large banks, credit unions, and other financial institutions already supervised by the CFPB.

BNPL 64
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Treasury Pushback On Financial Regulation?

PYMNTS

As reported in various publications, the report, which clocks in at just about 150 pages, has, as Fortune noted, more than 100 rule changes. Perhaps the most visible rollback would come with a truncating of the Consumer Financial Protection Bureau (CFPB)’s regulatory powers.