CFPB Opens Inquiry into “Buy Now, Pay Later” Credit

December 17, 2021

The CFPB issued a series of orders to collect information on the risks and benefits of “buy now, pay later” (BNPL) credit to Affirm, Afterpay, Klarna, PayPal, and Zip due to concerns about accumulating debt, regulatory arbitrage, and data harvesting in a consumer credit market already quickly changing with technology.

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