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CFPB’s 1st Try at BNPL Regulation Could Set Stage for More, Law360

Thursday, May 23, 2024

Partner Allen Denson was quoted in an article by Law360 discussing the Consumer Financial Protection Bureau’s new guidance that treats buy-now, pay-later (BNPL) firms more like credit card companies.

The new guidance could have significant implications for how BNPL providers run their businesses. “This is a big change,” said Allen. “They’re going to have to issue monthly statements along the lines of what is required under [the Truth in Lending Act], and they may have to develop some pretty specific dispute resolution and right-of-return processes.”

Read the full Law360 article >>