Appearing in Payments Dive on June 16, Patrick Cooley interview NCLC Associate Director and Director of Federal Advocacy Lauren Saunders for coverage of how the battle over buy now, pay later — whether it’s helpful or hurtful to users — persists even after the Consumer Financial Protection Bureau last month withdrew its rule regulating such services.
Saunders contended the latest CFPB study didn’t counter earlier research that raised concerns over BNPL use. She referred to a May report from the research firm Bankrate that found roughly half of BNPL users had experienced some type of setback, be it a missed payment or a problem with refund.
“The June study does not refute the negative impacts of buy now, pay later credit found by other studies and surveys.”
Lauren Saunders, associate director of the National Consumer Law Center.
Support NCLC
Please support NCLC's work to advance consumer rights and economic justice with a tax-deductible contribution today!
Donate