The Consumer Financial Protection Bureau (CFPB) has released data highlighting that more than one-fifth of buy now pay later (BNPL) borrowers with a credit record used BNPL loans in 2022, with ...

Affirm says it reports some longer-term loans to Experian, but it doesn’t report its plans that offer four interest-free payments, a common BNPL structure. In addition, most credit scoring ...

While a pay-in-four plan doesn’t usually charge interest, longer-term BNPL plans may charge an annual percentage rate up to 36%. Fees, like for late or rescheduled payments, range from $2 to $15 ...

To better understand the emerging BNPL market, the CFPB issued market monitoring orders in March 2023 to collect information from several companies offering no-interest, pay-in-four BNPL loans ...