YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
The Consumer Financial Protection Bureau is investigating companies that offer a "buy now, pay later" service.
PayPal Holdings Inc., Affirm Holdings Inc. and Afterpay Ltd. are among companies being looked into by federal regulators.
“Buy now, pay later is the new version of the old layaway plan, but with modern, faster twists where the consumer gets the product immediately but gets the debt immediately too,” CFPB Director Rohit Chopra said, noting the agency is requesting information so that it “can report to the public about industry practices and risks.”
Read more from Bloomberg.
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