Buy Now, Pay Later Companies Must Adhere To Credit Card Standards, Consumer Agency Says

Associated Press, South Florida Sun-Sentinel
Wed, 05/22/2024 - 3:46pm

By CORA LEWIS (Associated Press) NEW YORK (AP) — Buy now, pay later companies must provide consumers with the same legal rights and protections as credit card lenders do, the Consumer Financial Protection Bureau said Wednesday in a new rule. That includes the right to demand a refund and to dispute transactions.

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Topics: cora lewis associated press new york ap consumer financial protection bureau here s what s behind the new regulation regardless buy now pay later cfpb director rohit chopra how is the industry responding to the rule affirm we cfpb s what rights do consumers the cfpb investigate refund provide the associated press charles schwab foundation a ap buy the the buy cfpb affirm klarna consumers the charles schwab standards agency credit card lenders dispute protections transactions loans statement years typically classic major lending company report billing marketed statements disputes refunds accounts services products significant spokesperson returned return

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