Payments Dive: Fintech groups oppose state BNPL rules

May 28, 2025 — Featured News

Appearing in Payments Dive on May 28, 2025, Patrick Cooley interview NCLC Associate Director Lauren Saunders for coverage of how Fintech trade groups are pressuring New York officials to change buy now, pay later regulations.

State-level oversight of the buy now, pay later industry is even more important after the Consumer Financial Protection Bureau said in March that it would spike an interpretive rule treating BNPL purchases like credit card transactions, said Lauren Saunders, an associate director for the National Consumer Law Center.

In an ideal world, we would have strong consumer protections at the federal level. But when the CFPB is going in the opposite direction, states have to step in.