New CRL Video Explains Why ‘Buy Now Pay Later’ Market Should Be Subject to Consumer Protections
New Product is Credit and Should be Regulated as Such WASHINGTON, DC – As the shopping season arrives, the Center for Responsible Lending (CRL) today released a short video explaining concerns about the exploding Buy Now Pay Later market and calling for the credit product to carry the same protections as credit cards. Buy Now Pay Later offers appear online as consumers are shopping for a wide range of products. In the typical arrangement, shoppers can opt to make four payments over six weeks. While this could be convenient, the product may have hidden costs and risks, including late fees