Buy now, pay later customers granted legal protections ... - NBC News
May 22, 2024 · The Biden administration announced Wednesday that consumers who use "buy now, pay later" (BNPL) services for purchases are entitled to the same legal protections as consumers who use credit cards.
BNPL refunds get oversight by CFPB, the consumer watchdog agency : NPR
May 22, 2024 · Shoppers who use buy now, pay later should have the same protections as credit card users, the federal consumer watchdog said on Wednesday.
Federal rules expanded to protect shoppers who buy now, pay later
May 22, 2024 · Providers of the increasingly popular point-of-sale loans must now offer some of the same protections afforded to credit card users, including the right to dispute charges and demand refunds for...
‘This is just the beginning of CFPB regulation of the BNPL industry ...
May 23, 2024 · On 22 May, the CFPB ruled that BNPL users merit the kind of consumer protection enjoyed by credit cardholders. Erin Bryan, one of the US’ top financial experts from international law firm Dorsey...
CFPB Takes Action to Ensure Consumers Can Dispute Charges and …
May 22, 2024 · Accordingly, Buy Now, Pay Later lenders must provide consumers some key legal protections and rights that apply to conventional credit cards. These include a right to dispute charges and demand a refund from the lender after returning a product purchased with a Buy Now, Pay Later loan.
U.S. consumer watchdog plans to regulate 'buy-now, pay-later' …
Sept 15 (Reuters) - The U.S. Consumer Financial Protection Bureau (CFPB) plans to start regulating "buy-now, pay-later" (BNPL) companies like Klarna and Affirm Holdings (AFRM.O) due to worries...
US consumer watchdog will apply credit card rules to buy now, …
May 22 (Reuters) - The U.S. Consumer Financial Protection Bureau will apply some credit card consumer protection rules to buy now, pay later (BNPL) lenders, the agency said on Wednesday, in a bid...
CFPB proposes new BNPL protections - Axios
May 22, 2024 · The consumer protections you get when you pay with a credit card should also apply when you pay with buy now pay later (BNPL) schemes. That's according to a proposed rule from the Consumer Financial Protection Bureau.
CFPB signals that regulation is coming for BNPL | TechCrunch
Sep 15, 2022 · The CFPB — in a step toward regulation — plans to issue guidance to oversee BNPL vendors and have them complete “supervisory” exams in line with credit card company reporting requirements,...
Good News for Shoppers Who Love Buy-Now, Pay-Later Programs
May 24, 2024 · T he Consumer Financial Protection Bureau (CFPB) issued a new interpretive rule on Wednesday that would provide customers using buy now, pay later (BNPL) with greater protections that would...