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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Consumer Financial Protection Bureau is Investigating Buy Now, Pay Later Firms
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SoftBank’s Onetime Pizza-Robot Darling Shuts Down
Zume, which raised $375 million from SoftBank to automate pizza-making with robots before switching to developing sustainable packaging, has shut down. The company is insolvent and has retained restructuring firm Sherwood Partners to liquidate the assets for the benefit of the creditors, an alternative to bankruptcy, according to Martin Pichinson, Sherwood Partners’ cofounder. It ceased...
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