CFPB signals intent to revoke Buy Now, Pay Later interpretive rule

The CFPB has stated it plans to revoke its "Use of Digital User Accounts to Access Buy Now, Pay Later Loans" interpretive rule [89 FR 47068, May 31, 2024] in a Status Report and Joint Motion to Stay in Financial Technology Association v. Consumer Financial Protect Bureau in the U.S. District Court for the District of Columbia.