Affirm Asks CFPB to Consider Tailored Buy Now, Pay Later Rules
AFRMAffirm(AFRM) PYMNTS.com·2024-07-30 04:51

With the Consumer Financial Protection Bureau (CFPB) winding down its commentary period for potential buy now, pay later regulations, Affirm Friday (July 26) submitted a detailed response advocating for adjustments that it says will better accommodate the unique aspects of BNPL products.The CFPB’s proposed Interpretive Rule under the Truth in Lending Act (TILA) and Regulation Z aims to extend consumer protection measures similar to those for traditional credit cards. While Affirm’s filing supports the CFPB’ ...