The United States' Consumer Financial Protection Bureau announced it will not prioritize enforcement actions based on its Truth in Lending (Regulation Z) guidance on the use of digital user accounts to access Buy Now, Pay Later loans, and will redirect enforcement and supervisory resources to other consumer threats. The de-prioritisation applies to “Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans” (89 Fed. Reg. 47,068, 31 May 2024). The Bureau said it will focus resources on pressing threats to consumers, particularly servicemen and veterans, and is contemplating action to rescind the Buy Now, Pay Later guidance.
Consumer Financial Protection Bureau 2025-05-06
United States' Consumer Financial Protection Bureau de-prioritises enforcement of Regulation Z guidance on Buy Now, Pay Later digital user accounts
The Consumer Financial Protection Bureau (CFPB) announced it will de-prioritize enforcement of its Truth in Lending (Regulation Z) guidance concerning digital user accounts for Buy Now, Pay Later loans. The CFPB will redirect resources to address more pressing consumer threats, especially those affecting servicemen and veterans, and is considering rescinding the Buy Now, Pay Later guidance.