As a key voice in the BNPL consumer credit ecosystem, we felt compelled to comment on the CFPB’s latest interpretive rule, broadening the applicability of some credit card regulations to BNPL products.

In our letter we restate our view that regulation, appropriately targeted and tailored to the BNPL industry, can be highly productive. In particular, measured regulations can help preserve access to credit in the form of innovative products like BNPL by promoting an inclusive and modern financial ecosystem. At the end of the day, better outcomes for consumers should be the overriding objective - this means improving transparency in the BNPL industry.

We are thrilled to be part of the conversation to help set the BNPL industry up for success and sustainable growth. You can read our comment letter on the Federal Register or download it directly HERE.