Apr 16, 2024 | FinTech, News
New Survey Finds More Than Half of BNPL Users Have Encountered Issues According to a Bankrate survey released last week, 56 percent of Buy Now, Pay Later (BNPL) users say they’ve encountered at least one issue while using the services, such as spending more than they...
Feb 22, 2024 | Financial Literacy, FinTech, News
Americans With Lower Credit Scores Use BNPL More Often New research from the Federal Reserve Bank of New York found that Americans already facing financial hardship are more frequent and intensive users of “buy now, pay later” (BNPL) offerings, with the majority of...
Jan 17, 2024 | Congressional Legislation, FinTech, News
House Financial Services Committee Announces Bipartisan AI Working Group Last week, House Financial Services Committee (HFSC) Chairman Patrick McHenry (R-N.C) and Ranking Member Maxine Waters (D-Calif.) announced the formation of the Committee’s bipartisan Working...
Dec 14, 2023 | Federal Regulation, FinTech, News
OCC Issues BNPL Guidance Last week, the Office of the Comptroller of the Currency (OCC) issued guidance to national banks and federal savings associations addressing what it says are the risks of “buy now, pay later” (BNPL) lending. BNPL products present compliance,...
Oct 31, 2023 | FinTech, News
Average Retail Credit Card APR Reaches New Record High Bankrate’s annual Retail Cards Study found that the average APR for retail credit cards reached a record high of 28.93 percent this year, up from 26.72 percent in 2022 and 24.35 percent in 2021. The average...
Oct 5, 2023 | FinTech, News
Fed Report Finds BNPL Loans Increase Financial Inclusion The Federal Reserve Bank of New York recently found that buy now/pay later (BNPL) loans have helped consumers pay off debt at a lower cost than traditional loans, despite consumer advocates urging regulators to...
