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  • Payment
  • United States

CFPB to regulate BNPL, considered akin to credit cards

The Consumer Financial Protection Bureau (CFPB), the federal agency responsible for protecting the financial interests of consumers in the USA, announced last week that it was tightening its legislation on BNPL. The CFPB considered that BNPL products were similar to credit cards, and therefore subject to the same consumer law measures. This stance has prompted a reaction from fintech specialist Klarna.

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