White House announces protections for "buy now, pay later" shoppers

The Consumer Financial Protection Bureau announced Wednesday that lenders that offer "buy now, pay later" plans must provide customers with the same protections as those offered to credit card users, including allowing shoppers to demand refunds on returned products or canceled services. Jo Ling Kent has details.
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[@yvonneplant9434]

Lay Away?

[@FlyBoyMT]

I have never used this and never will. Why try to flaunt money that you don’t have? Ridiculous.

[@mavricxx]

I'm hlad they're doing this! Also, glad they're required to provide billing statements because I've lost track in the past why I'm getting billed by Pay Pal and don't know what that payment was for. This has caused me to only buy one item at a time and after it being paid off then move on to something else. I barely use this BNPL though but it has come in handy at times.

[@spankyssurprise1361]

How about you don't buy things until you actually have the money.

[@dmb5libra82]

I'm confused. They already do all these things they require...I'm thinking the credit card companies are lobbying...