“The CFPB’s latest report reinforces what we continue to see across the consumer finance marketplace: Americans are increasingly choosing transparent, flexible payment options over higher-cost credit products.

“Importantly, the CFPB’s report highlights encouraging signs for the buy now, pay later sector, including a continued decline in charge-off rates. These trends reflect stronger underwriting, and a sustained commitment to consumer protection among responsible BNPL providers. Most importantly, consumers are prudently engaging with BNPL to improve their financial lives.

“As policymakers evaluate the future of BNPL, it is essential that decisions remain grounded in data, and aimed at creating clear, consistent rules that support responsible innovation and protect consumers.”

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