CFPB issues orders to five BNPL companies for market inquiry

Consumer Financial Protection Bureau issued Information orders under CFPA Section 1022(c)(4) on December 16, 2021.

Primary

Consumer Financial Protection Bureau

Structure

Information orders under CFPA Section 1022(c)(4)

Date

December 16, 2021

Sub-sector

BNPL

CFPB launched systematic regulatory inquiry into BNPL sector amid concerns about debt accumulation, regulatory arbitrage, and data practices.

Primary company

Consumer Financial Protection Bureau

Counterparty

—

Amount

—

Event date

December 16, 2021

Sub-sector

BNPL

HQ

—

Structure

Information orders under CFPA Section 1022(c)(4)

Source published

December 27, 2021

Publisher

Mondaq

Source: mondaq.com