The CFPB's new rule extends legal protections to "buy now, pay later" customers.
The CFPB's new rule extends legal protections to "buy now, pay later" customers, offering rights to dispute charges, demand refunds, and receive billing statements. The Better Business Bureau (BBB) advises consumers to use these services wisely, suggesting they stick to their budgets and read the fine print. Before this rule, "buy now, pay later" plans, often run by third-party financing companies similar to credit card lenders, did not provide consumers with all the same protections.
June 22, 2024
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