October 11, 2022
S&P Global Market Intelligence
In a new article for S&P Global Market Intelligence, partner Allen Denson weighs in on talk of the Consumer Financial Protection Bureau (CFPB) being “less likely” to take enforcement actions against buy-now-pay-later (BNPL) platforms and discusses his thoughts on the CFPB’s recent report.
“Although there have not been publicly announced enforcement actions against BNPL platforms, per the CFPB's website, it cannot be assumed that the CFPB is less likely to take action. The report is meant to be a study of industry practices, rather than announcing enforcement actions…I don't think that there should be any immediate reaction to the report. Folks need to just monitor what the bureau does next and then give some thought as to how to prepare for CFPB supervision.”
Read the full article here.
October 11, 2022
S&P Global Market Intelligence
In a new article for S&P Global Market Intelligence, partner Allen Denson weighs in on talk of the Consumer Financial Protection Bureau (CFPB) being “less likely” to take enforcement actions against buy-now-pay-later (BNPL) platforms and discusses his thoughts on the CFPB’s recent report.
“Although there have not been publicly announced enforcement actions against BNPL platforms, per the CFPB's website, it cannot be assumed that the CFPB is less likely to take action. The report is meant to be a study of industry practices, rather than announcing enforcement actions…I don't think that there should be any immediate reaction to the report. Folks need to just monitor what the bureau does next and then give some thought as to how to prepare for CFPB supervision.”
Read the full article here.
