Attorney General Raoul Launches Inquiry Into Buy Now Pay Later Lenders

Attorney General Raoul Launches Inquiry Into Buy Now Pay Later Lenders

CHICAGO – Attorney General Kwame Raoul, as part of a multi-state coalition of seven attorneys general, today sent letters to the six largest buy-now-pay-later (BNPL) providers seeking detailed information regarding their pricing and repayment structures, consumer contracts, user agreements, and disclosures. The inquiry aims to determine if BNPL companies are complying with consumer protection laws and whether their products may be placing Illino…

AGs demand BNPL loan info

State attorneys general asked for information from buy now, pay later firms, including Klarna and Affirm, regarding loans and user disputes.

CT Joins Six Other States In Requesting Pricing, Repayment Structures From Buy Now, Pay Later Providers

Connecticut’s action follows a decision by the Trump administration to abandon a federal rule issued by the Biden administration that would have required BNPL providers to adhere to the same consumer protections as other lenders.

ATTORNEY GENERAL TONG LAUNCHES INQUIRY INTO BUY NOW, PAY LATER LENDERS

BNPL products may expose consumers to unclear terms, hidden fees, and debt traps (Hartford, CT) – Attorney General William Tong led a multistate coalition of seven attorneys general sending letters to the six largest buy now, pay later (BNPL) providers seeking detailed information regarding their pricing and repayment structures, consumer contracts, user agreements, and disclosures. The inquiry aims to determine if BNPL companies are complying w…

Seven state AGs demand more information from BNPL lenders

Seven state attorneys general have sent a letter to the nation's top "Buy Now, Pay Later" lenders, asking pointed questions and expressing concern that BNPL customers have fewer protections than credit card users.

Raoul Looking Closely at BNPL

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