'CFPB's Rule Aims To Treat Buy Now, Pay Later Like Credit Cards' - Bloomberg
Portfolio Pulse from Benzinga Newsdesk
The Consumer Financial Protection Bureau (CFPB) is introducing a rule to regulate Buy Now, Pay Later (BNPL) services similarly to credit cards. This move could impact companies like Affirm and PayPal, which offer BNPL services.
October 18, 2024 | 6:03 pm
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The CFPB's new rule to regulate Buy Now, Pay Later services like credit cards could impact Affirm, a major player in the BNPL market.
Affirm is a significant provider of BNPL services, and the CFPB's move to regulate these services like credit cards could increase compliance costs and affect its business model.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
PayPal, which offers Buy Now, Pay Later services, may be affected by the CFPB's new rule to regulate these services like credit cards.
PayPal's involvement in the BNPL market means it could face increased regulatory scrutiny and potential changes in its service offerings due to the CFPB's new rule.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70