Odd Lots What's Behind the Boom in Buy Now Pay Later
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Sep 4, 2025 
Julie Margetta Morgan, President of The Century Foundation and a former CFPB employee, dives into the booming Buy Now, Pay Later (BNPL) market. She explores how BNPL is reshaping consumer credit by offering a modern alternative to traditional financing. Julie discusses the surge in popularity linked to pandemic spending behaviors, the complexities of credit reporting, and concerns around hidden financial risks. Insights into how fintechs are navigating the regulatory landscape and leveraging consumer trends make this conversation particularly eye-opening.
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Apply Existing Consumer Protections To BNPL
- Require BNPL providers to follow the same consumer protections as similar credit products.
- Ensure billing accuracy, dispute processes, and enforcement parity to protect consumers.
Regulatory Pullback Raises Consumer Risks
- Enforcement pullbacks increase consumer risk when regulators deprioritize BNPL oversight.
- Consumers report problems like companies continuing to charge after auto-pay cancellation.
Convenience And Limits Drive BNPL Adoption
- Consumers switch to BNPL partly after increasing credit card use and hitting limits.
- BNPL's convenience and app-driven nudges also pull users into recurring debt cycles.