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CFPB plans to revoke BNPL interpretive rule

Summary by LexBlog
The CFPB intends to revoke its Buy Now, Pay Later interpretive rule, according to a status report and joint motion to stay filed by the Bureau and the Financial Technology Association (FTA) in a case brought by the FTA challenging the rule. The revocation is one of several steps the Trump Administration is taking to reverse Biden Administration CFPB actions. The CFPB and FTA have asked the U.S. District Court for the District of Columbia for a s…
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Consumer Finance MonitorConsumer Finance Monitor
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LexBlogLexBlog

CFPB plans to revoke BNPL interpretive rule

The CFPB intends to revoke its Buy Now, Pay Later interpretive rule, according to a status report and joint motion to stay filed by the Bureau and the Financial Technology Association (FTA) in a case brought by the FTA challenging the rule. The revocation is one of several steps the Trump Administration is taking to reverse Biden Administration CFPB actions.... Continue Reading

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American BankerAmerican Banker

CFPB's payday rule goes into effect in test of Trump policy

The Trump administration could still make last-minute changes to the Consumer Financial Protection Bureau's payday lending rule to accommodate the buy now/pay later industry.

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PYMNTS.comPYMNTS.com

CFPB Signals It Will Drop Rule to Treat BNPL Providers Like Credit Card Companies

The CFPB has filed court papers stating its intention to drop a rule mandating credit card industry practices be adopted by pay later firms.

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PYMNTS.com broke the news in on Thursday, March 27, 2025.
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