Buy Now, Pay Later Report Warns of Risks and "Chaos"

Plus, still waiting for the Bitcoin ETF.

Number of the Week: 99.988% (explanation below)

Buy Now, Pay Later Report Warns of Risks and "Chaos"

This week the Consumer Finance Protection Bureau (CFPB) issued the most comprehensive report to date on the Buy Now, Pay Later industry in the United States; in many respects, Buy Now, Pay Later: Market trends and consumer impacts surpasses earlier documents from Britain’s Financial Control Authority. You expect CFPB to focus on consumer problems—and we’ll get to that—but what makes this report especially insightful is that it also provides a rare window onto the BNPL industry. Even the public BNPL companies, such as Affirm, don’t usually disclose market data this granular.

The first part is growth, which is even more jaw-dropping than is commonly appreciated.