National Law Journal, CFPB Backs Off Buy Now, Pay Later Oversight, Signals Repeal of Rule
“The interpretive rule established ‘reasonable’ safeguards such as permitting borrowers to dispute charges and requiring lenders to issue billing statements and credit for returns, said Christine Hines, senior policy director for the National Association of Consumer Advocates.
‘This is consistent with what the new leaders at the agency have been doing for the past few months in that they’re trying to cripple the agency,’ she said. ‘I’m afraid it doesn’t have any legal logic except that they want to cripple the bureau’s work and undermine the existing protections for millions of people out there.’”
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