Learn the risks of buy now, pay later apps before a big purchase.

The rapid growth of players in the “buy now, pay later” space has caught the attention of a federal agency focused on consumer protection.

Consumer Financial Protection Bureau Initiated an inquiry Enter Buy Now, Pay Later (BNPL) credit late last year. a new survey Loans from BNPL have been taking off in recent years: 180 million loans worth $24 billion to just five companies in 2021, a nearly 10-fold increase from 2019, according to the bureau.

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