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CFPB Issues Interpretive Rule Classifying BNPL Products as ‘Credit Cards’
The National Law Review· 1 day agoSpecifically, the Rule determines that (i) digital user accounts (“Accounts”) for access to BNPL...
CFPB Applies Consumer Credit Card Protections to Buy Now, Pay Later Plans | JD Supra
JD Supra· 14 hours agoBuy Now, Pay Later (“BNPL”) payments are often presented by retailers and BNPL lenders to consumers as an alternative to traditional credit card...
‘Regulation is needed;’ New rules could make Buy Now Pay Later apps work more like credit cards
WHIO via Yahoo Finance· 7 days ago“I do think more regulation is needed here on a few fronts,” Rossman said. The...spending too much,...
New CFPB Interpretive Rule to Regulate BNPL | JD Supra
JD Supra· 14 hours agoThe Consumer Financial Protection Bureau (CFPB ) has issued an interpretive rule stating that Buy Now, Pay Later (BNPL) loan providers are "card issuers ...
Where to Begin With the CFPB's "Buy Now, Pay Later" Interpretative Rule... | JD Supra
JD Supra· 14 hours agoThe Consumer Financial Protection Bureau's interpretative rule provides that traditional "Buy Now, Pay Later" (BNPL) products – closed-end loans that do not have a finance ...
CFPB issues interpretive rule likening BNPL accounts to credit cards under Regulation Z | JD Supra
JD Supra· 5 days agoNow, Pay Later (BNPL) accounts. The interpretive rule asserted that “digital user accounts” used to access BNPL credit are considered “credit< ...
CFPB Subjects Certain BNPL Products to Credit Card Requirements | JD Supra
JD Supra· 5 days agoOn May 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule indicating that certain Buy Now, Pay Later (BNPL) products are subject to certain ...
Surprise! CFPB Claims That Buy Now, Pay Later Providers Are “Card Issuers” Under Reg Z | JD Supra
JD Supra· 5 days agoBNPL providers would be surprised by this conclusion because BNPL is non-revolving, "finance charge-free," “closed-end” credit...
Texas judge again transfers lawsuit over card late fee rule to Washington, D.C.
Reuters· 7 days agoThe U.S. Consumer Financial Protection Bureau (CFPB) on Tuesday scored a jurisdictional victory when...
Credit Card Late Fee Suit’s Transfer to Washington Put on Hold
Bloomberg Law· 6 days agoJudge Mark Pittman of the US District Court... of Texas transferred the case to the federal district court in Washington late Tuesday, noting that no banks subject to the rule