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CFPB Issues “Interpretive Rule” Deeming BNPL Providers Card Issuers | JD Supra
JD Supra· 4 days agoThe result of the CFPB’s multi-year study of the BNPL industry is what the CFPB calls an interpretive rule in which it finds that: (1) “digital user accounts ...
CFPB to treat BNPL loans like credit cards
Banking Dive· 7 days agoThe Consumer Financial Protection Bureau issued a new rule Wednesday saying that buy now, pay later companies are credit card providers, and must provide similar consumer protections as credit ...
CFPB Announces Extensions to Section 1071 Compliance Deadlines | JD Supra
JD Supra· 5 days agoOn May 17, 2024, the Consumer Financial Protection Bureau (CFPB) announced its intention to extend the deadlines for compliance with Section 1071 of...
CFPB Interpretive Rule Holds That BNPL Lenders Are Credit Card Providers
The National Law Review· 3 days agoOn May 22, the CFPB announced an interpretive rule confirming that Buy Now, Pay Later (BNPL) lenders...
Was it a pyrrhic victory for the Supreme Court in CFSA v. CFPB? | JD Supra
JD Supra· 5 days agoLeft untouched by the Supreme Court is the statutory question of whether the CFPB and the Federal Reserve Board complied with the requirements of Dodd-Frank in connection ...
CFPB Rules Buy Now, Pay Later Lenders Must Offer Key Credit Card Protections | JD Supra
JD Supra· 5 days agoAmong other things, this classification would require BNPL and other lenders to extend many of the same legal protections and rights to consumers that apply to traditional credit cards, including ...
The CFPB Lives On and Arbitrable Lawsuits Must Be Stayed (Not Dismissed) | JD Supra
JD Supra· 7 days agoThe Supreme Court was busy last week issuing opinions of interest to consumer finance companies, CFPB-regulated entities, and anyone who finds themselves enforcing arbitration ...
CFPB issues rule to classify BNPL as credit cards - CUInsight
CUInsight.com· 5 days agoThe CFPB Wednesday announced an interpretive rule to apply some, but not all, of the consumer...
CFPB Shuts Down Debt Relief Provider Over Fraudulent Student Loan Practices
The National Law Review· 3 days agoOn May 20, the CFPB settled an enforcement action against a California-based telemarketing firm for...
CFPB proposes new BNPL protections
Axios· 5 days agoThe rule would formalize conventions that have informally been in place for some time.