The U.S. Consumer Financial Protection Bureau (CFPB) signaled a softer regulatory approach last month, easing its investigation of financial firms, in a move consistent with the Trump administration’s scaling back of regulatory enforcement on businesses. The agency reaffirmed this pivot as it will ease scrutiny of “Buy Now, Pay Later” (BNPL) firms.
In an announcement posted on the CFPB’s site on Tuesday, the agency said it will ”not prioritize enforcement actions taken on the basis of the Truth in Lending” regarding BNPL companies. Instead, it will support the interests of ”hard-working American taxpayers, servicemen, veterans, and small businesses,” which echoes what the agency said last month by increasing its focus on ”pressing threats to consumers, particularly service members and their families and veterans.”
