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September 1, 2022

American Banker

In a new American Banker article, partner Allen Denson discusses the upcoming analysis of how buy-now-pay-later (BNPL) fintechs could fall under Consumer Financial Protection Bureau (CFPB) supervision.  

"The CFPB's report will likely expose the good, the bad and the ugly aspects of BNPL fintechs' practices", Denson said. "Positives could include BNPL loans' ability to expand credit access to new or underbanked borrowers and build credit histories. Negatives could involve unclear policies around penalty interest rates, late fees and inconsistent handling of sensitive consumer data."

Read the full article here.

September 1, 2022

American Banker

In a new American Banker article, partner Allen Denson discusses the upcoming analysis of how buy-now-pay-later (BNPL) fintechs could fall under Consumer Financial Protection Bureau (CFPB) supervision.  

"The CFPB's report will likely expose the good, the bad and the ugly aspects of BNPL fintechs' practices", Denson said. "Positives could include BNPL loans' ability to expand credit access to new or underbanked borrowers and build credit histories. Negatives could involve unclear policies around penalty interest rates, late fees and inconsistent handling of sensitive consumer data."

Read the full article here.

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