“Regulation needed”; New rules could make Buy Now Pay Later apps work more like credit cards – WHIO TV 7 and WHIO Radio

There are new rules for Buy Now, Pay Later apps that will make them work more like credit cards.

The Consumer Financial Protection Bureau is working to ensure that installment payment options provide the same protections as credit cards. News Center 7’s Xavier Hershovitz looks at how this change will narrow down an issue that many users are experiencing live at 5 p.m.

Buy now, pay later apps like Affirm, Klarna and Afterpay have skyrocketed in popularity.

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