What to Know About Buy Now, Pay Later

Consumer Bureau Issues Warning During Busy Shopping Season

Andy Spears

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The Consumer Financial Protection Bureau (CFPB) has issued a warning about Buy Now, Pay Later (BNPL) loan products even as consumers are in the midst of a key shopping season.

Specifically, the CFPB is advising consumers to be aware of fees and of the fact that BNPL products have fewer protections than credit cards. The Bureau notes:

While many BNPL loans don’t charge interest, most do charge late fees if you don’t…

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Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .