CFPB Shifts Course on Buy Now, Pay Later: Interpretive Rule Revoked, Legal Challenge Implications
By EsqSocial Corporation 03/04/25
The Consumer Financial Protection Bureau (CFPB) recently announced a significant change in its approach to the burgeoning "buy now, pay later" (BNPL) market. The Bureau has announced plans to revoke its May 2024 interpretive rule that asserted BNPL lenders were to be regulated as credit card issuers under existing law. This decision carries significant implications for the financial technology industry and has a direct impact on the lawsuit filed by the Financial Technology Association (FTA)...
By: Kilpatrick