The Consumer Financial Protection Bureau (CFPB) is flagging Buy Now, Pay Later (BNPL) programs, using companies like Intuit and Klarna as examples of potential consumer harm.

The entities involved

• Consumer Financial Protection Bureau →

  agency of the United States government responsible for consumer protection in the financial sector

  • Vought directs CFPB guidance on lending, while the administration issues executive orders advising regulators on credit risk and restricting immigrant access to finance.Sat 16:26
  • CFPB requires FED to send necessary funds as Vought refuses agency draw from the FED amid funding disputes.Sat 16:26
• Intuit →

  American business that specializes in financial software

  • Columbia Threadneedle Investments is managing a fund that focuses specifically on technology growth.Mon 04:03
  • Intuit offers services in the United States, enhancing Mailchimp with AI solutions, while Credit Karma is confirmed as a segment of Intuit. AppLovin also operates in the US.Sun 16:05
• Klarna →

  Swedish fintech company

  Nothing else this week.

Related events

• BNPL companies Klarna and LendingTree are being studied regarding consumer finance trends by academic institutions, including Olin Business School, with input from the Federal Reserve Bank of Richmond.Aug 27
• Klarna and Affirm, major players in the BNPL market, are facing scrutiny regarding their business model, which has been likened to that of 'benign drug dealers.'Sep 2
• The insurance industry opposes the Consumer Financial Protection Bureau's regulatory expansion.Sep 17