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Why This Matters
This resolution nullifies a rule that aimed to regulate how lenders offer Buy Now, Pay Later loans through digital accounts, removing important consumer protections.
If you use Buy Now, Pay Later loans, this resolution could mean less transparency and higher costs for you.
Who this affects
Consumers using BNPL loans · Lenders providing BNPL loans
What does this resolution do?
1This resolution stops a rule that would have held lenders accountable for Buy Now, Pay Later loans.
2Without this rule, lenders may not have to provide clear information about loan terms and fees.
3Consumers could face higher costs and less protection when using digital accounts for loans.
4The resolution removes requirements for lenders to send periodic statements or address billing disputes.
