Jul 11, 2024 | FinTech, News
End of NY Legislative Session Means No BNPL Bill This Year New York State lawmakers ended their legislative session in June with no new state regulations for the buy now, pay later (BNPL) industry, contrary to what many anticipated. State governor Kathy Hochul began...
May 30, 2024 | Federal Regulation, FinTech, News
CFPB Proposes Regulating BNPL Loans Like Credit Cards Last week, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule that considers Buy Now, Pay Later (BNPL) lenders to be credit card providers. The Bureau says that the move is meant to protect...
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,...
