The BNPL industry is growing at a fast clip. Australia-based Zip's new CEO for U.S. operations is looking to carve out a place in what is becoming a crowded industry with expanded merchant partnerships and a Pay-in-8 product.| American Banker
The Consumer Financial Protection Bureau issued a new interpretive rule designating buy now/pay later lenders as credit card providers, subjecting those services to consumer protections like the right to dispute charges and receive refunds.| American Banker
Affirm is reporting consumers' buy now/pay later loans to Experian, following a February study with FICO. It's one of the first steps in credit reporting for BNPL, potentially complicating banks' assessments for other types of lending.| American Banker
With the government contract for Direct Express, Bank of New York would gain a free liquidity source of more than $3 billion in deposits a month and expand its burgeoning offerings to the underbanked.| American Banker
