2 min
5/23 - Candice Cole, CMG Washington Jacksonville's Morning News Interviews
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- Daily News
BUY NOW, PAY LATER - The Consumer Finance Protection Bureau has issued a new interpretive rule that classifies buy now, pay later companies like Klarna and Affirm as credit card providers. The new classification is ultimately a win for consumers because BNPL companies will have to investigate borrower disputes and pause payment during their investigation, offer refunds for returns and cancellations, and provide billing statements. Candice Cole joins us live in Washington with more on the impact and how BNPL companies are responding.
BUY NOW, PAY LATER - The Consumer Finance Protection Bureau has issued a new interpretive rule that classifies buy now, pay later companies like Klarna and Affirm as credit card providers. The new classification is ultimately a win for consumers because BNPL companies will have to investigate borrower disputes and pause payment during their investigation, offer refunds for returns and cancellations, and provide billing statements. Candice Cole joins us live in Washington with more on the impact and how BNPL companies are responding.
2 min