The Consumer Financial Protection Bureau (CFPB) announced plans to classify "buy now, pay later" (BNPL) services as credit cards, extending consumer protections such as the ability to dispute charges and request refunds.
This move, prompted by the rapid growth and associated debt concerns of BNPL programs like Affirm and Klarna, aims to bring consistency and safeguard users. While Affirm supports the new regulation, Klarna argues it fails to recognize the fundamental differences between BNPL and traditional credit cards.
If you’re interested in learning more on this matter, please consider Anil Nathan. Nathan is an economist with primary research experience in education and health, but also has interests in a variety of applied microeconomic and econometric topics. His teaching interests include microeconomics, econometrics, impact evaluation, and the economics of education. Nathan speak to the pro's and con's of this type of move, whether or not BNPL programs are predatory and what consumers should be on the lookout for.
If you would like to connect with Prof. Nathan, please contact media relations specialist Tayah Frye at tayah [dot] frye
gwu [dot] edu (tayah[dot]frye[at]gwu[dot]edu).
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