The CFPB ordered five companies to provide information regarding their "buy now, pay later" credit programs. The CFPB expects to publish findings on the risks of these programs concerning accumulation of debt, regulatory arbitrage and data harvesting.
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The Government Accountability Office issued a report evaluating the risks and benefits, customer protections, and regulatory oversight of FinTech products and activities.
The Consumer Financial Protection Bureau granted no-action relief to an online lending platform from supervisory or enforcement action with respect to the Equal Credit Opportunity Act.