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Top related persons:
Penny Lee - 2 Shannon Grein - 1 Marshall Lux - 1 BNPL - 1 — - 1 PayPal — - 1 We've - 1 Lux - 1
Top related locs:
NerdWallet Wells
Top related orgs:
Consumer Financial - 2 Bureau - 2 Financial Technology Association - 2 PayPal - 2 CNBC - 1 Rahmani Center for Business - 1 Government - 1 Harvard Kennedy School - 1

Search resuls for: "Penny Lee"


3 mentions found


☆ Why buy now, pay later debt could become a problem for the U.S. economy
  + stars: | 2024-06-20 | by ( Charlotte Morabito | In Charlottemorabito | ) www.cnbc.com   time to read: +2 min
Buy now, pay later options are becoming more accessible to consumers. A quarter of Americans surveyed in April 2024 said they used buy now, pay later services in the past 12 months, according to a recent report from NerdWallet. The number of buy now, pay later loans increased nearly 1,100% between 2019 and 2021, according to data compiled by the Consumer Financial Protection Bureau. The rapid growth has some analysts concerned because where there are loans, there is debt — but exactly how much debt is still unclear. The FTA is a trade group that represents four of the largest buy now, pay later providers: Klarna, Afterpay, Zip and PayPal.
Persons: Shannon Grein, Penny Lee Organizations: Consumer Financial, Bureau, CNBC, Financial Technology Association, PayPal Locations: NerdWallet, Wells
☆ Harvard fellow: CFPB's 'buy now, pay later' regulation isn't enough — nothing 'substantively changes'
  + stars: | 2024-06-03 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +1 min
Last month, the Consumer Financial Protection Bureau declared that buy now, pay later customers should have the same federal protections as users of credit cards. However, Marshall Lux, a fellow at the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School who studies BNPL, says the government's latest guidance is already a few steps behind. In fact, major buy now, pay later providers already provide such safeguards for users. "We've got an industry that's moving at light speed and a regulatory process that takes time," Lux said. More from Personal Finance:25% of consumers recently used a buy now, pay later loanCould buy now, pay later loans affect your credit score?
Persons: Marshall Lux, BNPL, —, PayPal —, We've, Lux, Penny Lee Organizations: Consumer Financial, Bureau, Rahmani Center for Business, Government, Harvard Kennedy School, PayPal, Finance, Financial Technology Association, Zip
☆ In Chinatowns across the U.S., tradition and history collide with luxury development
  + stars: | 2023-05-14 | by ( Noah Sheidlower Pia Singh | Noah Sheidlower | Pia Singh | ) www.cnbc.com   time to read: +21 min
Some Chinatown residents benefited from the development boom, selling properties to developers or drawing more customers from increased foot traffic. Some residents have shown tentative support for the luxury buildings, saying they might make the neighborhood safer or bring in wealthier Asian residents who could boost Chinatown's economy. Manhattan Chinatown's housing stock is "really aged," which has led to costly fires, according to Thomas Yu, executive director of Asian Americans for Equality. Chinatowns and the pandemicMany debates surrounding luxury development and affordable housing were accelerated by the pandemic, which shuttered hundreds of businesses across Chinatowns. However, business owners who spoke with CNBC said Chinatown's businesses, though still recovering, are keeping the city's culture alive.
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