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Consumer Financial Protection Bureau is Investigating Buy Now, Pay Later Firms

By
Malique Morris
· · Source: The Information

The Consumer Financial Protection Bureau on Thursday announced it is investigating several firms that offer short-term installment loans to customers that are buying goods online. The bureau said it issued subpoenas to Affirm, Afterpay, Klarna, Zip and PayPal, which offers installment loans through its “pay in four” feature. Rohit Chopra, the bureau’s director, said the probe is intended to...

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