Reed Leads Letter Urging CFPB to Apply 'Credit Card-Like' Rules and Protections for Buy Now, Pay Later Purchases
September 12, 2024
September 12, 2024
WASHINGTON, Sept. 12 -- Sen. Jack Reed, D-Rhode Island, issued the following news release:
Three leading U.S. Senators are urging the U.S. Consumer Financial Protection Bureau (CFPB) to follow through with an interpretive rule that would treat buy now, pay later (BNPL) lenders essentially the same as credit-card issuers for the purpose of consumer protection.
BNPL products allow shoppers to divide the cost of their purchases over several months, often interest-free. If . . .
Three leading U.S. Senators are urging the U.S. Consumer Financial Protection Bureau (CFPB) to follow through with an interpretive rule that would treat buy now, pay later (BNPL) lenders essentially the same as credit-card issuers for the purpose of consumer protection.
BNPL products allow shoppers to divide the cost of their purchases over several months, often interest-free. If . . .