The average consumer worries about money six times a day and more than half have overextended themselves are in a “difficult” financial position, according to the results of a survey conducted and released by Affirm, a Buy Now, Pay Later provider. On the bright side, though, younger consumers feel as …
Read More »Credit Bureaus Looking to Add BNPL Histories to Credit Scores
As Buy Now, Pay Later becomes a more popular topic, especially among regulators, another key group in the financial services is looking at measuring the impact of those who take out this new form of credit — credit bureaus. Now that they are becoming more popular and mainstream, the credit …
Read More »CFPB Opens Inquiry into Buy Now Pay Later Offerings
The Consumer Financial Protection Bureau announced yesterday that it is shining its regulatory spotlight on a growing form of credit in the financial services industry — Buy Now Pay Later (BNPL) companies — and sent inquiries to five of the major providers asking for information “to illuminate the range of …
Read More »More Consumers Taking on New Type of Debt, Calls for Regulation Get Louder
There is a new category of debt that emerging, digital-first collection agencies are seeing more of, and it appears this type of debt is going to become even more prevalent in the years to come, according to a recently published report. Known as “Buy Now, Pay Later,” this type of …
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