New York State Gov. Kathy Hochul has codified how buy now/pay later lending will operate in the state, taking a heavier hand as the Consumer Financial Protection Bureau loosens its grip under President Trump.| American Banker
The American Fintech Council requested a 30-day extension for buy now/pay later providers to submit information about their businesses to the New York Department of Financial Services. New York is the first state to institute a law specifically regulating BNPL.| American Banker