The Consumer Financial Protection Bureau is planning to regulate "buy now, pay later" lenders the same as it does credit card companies, and it is looking into limiting how personal data is used by such businesses, the agency said on Thursday.
Why it matters: Firms in the BNPL space are facing regulation both as financial companies and as tech businesses. How the CFPB decides to further regulate the space will have implications for all companies offering fintech apps and services.
