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Marshall Lux - 1 BNPL - 1 — - 1 PayPal — - 1 We've - 1 Lux - 1 Penny Lee - 1
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Consumer Financial - 1 Bureau - 1 Rahmani Center for Business - 1 Government - 1 Harvard Kennedy School - 1 PayPal - 1 Finance - 1 Financial Technology Association - 1

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3 mentions found


☆ 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
☆ Gen Zers are spending big this holiday season — and it could come back to bite them
  + stars: | 2022-12-06 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +4 min
Gen Z shoppers came out in full force during Black Friday and Cyber Monday this year. BNPL seems like an easy way to pay for purchases, but it's causing some young consumers to rack up debt. Despite predictions of a lackluster holiday shopping season this year, shoppers came out in full force during Black Friday and Cyber Monday. "One standout this Black Friday was the high turnout of Gen Z in stores," Kristen Classi-Zummo, apparel industry analyst with market research firm NPD, told CNN. Frequent BNPL use has led some young shoppers to rack up thousands of dollars in debt and tank their credit scores.
☆ More Americans tapping buy now, pay later for holiday gifts shows 'how stressed the economy is,' Harvard researcher says
  + stars: | 2022-11-30 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +1 min
Americans are increasingly finding alternative ways to satisfy their holiday wish lists as they continue to grapple with high prices and inflation. On Black Friday through Cyber Monday, buy now, pay later payments through companies such as Klarna, Zip, Zilch, Affirm and Afterpay jumped 85% compared with the week before, according to the most recent data from Adobe. Buy now, pay later revenue rose 88% for the same period. Lux called this year's spike in installment buying "horrible, and a real statement on how stressed the economy is, especially for the average American." Heading into November, 60% of Americans reported living paycheck to paycheck.
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