BNPL Market Trends and Consumer Impacts Pt. 2

12/16/22 • 26 min

COMPLY: The Marketing Compliance Podcast

Our episode this week is part two of a conversation on the current and future regulation of the buy now, pay later industry featuring Alan Kaplinsky and Lisa Lanham, two thought leaders from Ballard Spahr, and PerformLine’s own SVP John Zanzarella.
Their conversation focuses on the CFPB’s latest report on Buy Now, Pay Later: Market trends and consumer impacts, as they specifically discuss the three main areas of concern for consumer protection risks for BNPL products as outlined by the CFPB, from both the federal and state perspective, including the lack of standardized disclosures for these products, the lack of process around dispute resolution, and the issue of compulsory payments, or “auto-pay” as the bureau refers to it.
Show Notes:

The Buy Now, Pay Later Compliance Checklist: https://bit.ly/3EWze5e
Top 5 Buy Now, Pay Later Compliance Issues Across Merchant Sites: https://bit.ly/3B40P37
The Buy Now Pay Later International Regulation Map: https://bit.ly/3VncMZS
Follow Alan: https://www.linkedin.com/in/alankaplinsky/
Follow Lisa: https://www.linkedin.com/in/lisamlanham/
Follow John: https://www.linkedin.com/in/johnzanzarella/
Follow Ashley (AC): https://www.linkedin.com/in/ashley-cianci

The Buy Now, Pay Later Compliance Checklist: https://bit.ly/3EWze5e
Top 5 Buy Now, Pay Later Compliance Issues Across Merchant Sites: https://bit.ly/3B40P37
The Buy Now Pay Later International Regulation Map: https://bit.ly/3VncMZS
Follow Alan: https://www.linkedin.com/in/alankaplinsky/
Follow Lisa: https://www.linkedin.com/in/lisamlanham/
Follow John: https://www.linkedin.com/in/johnzanzarella/
Follow Ashley (AC): https://www.linkedin.com/in/ashley-cianci

Previous Episode

BNPL Market Trends and Consumer Impacts Pt.1

Our episode this week revolves around the current state of the buy now, pay later industry. The conversation features Alan Kaplinsky, Senior Counsel at Ballard Spahr, Lisa Lanham, Partner at Ballard Spahr, and John Zanzarella, SVP at PerformLine.
In addition to discussing where this industry stands today, they also discuss the possible future of this industry over the next few years given the current headwinds it faces - which include a decrease in consumer spending, rising inflation and existing loan quality and cost of funding becoming constrained as interest rates continue to rise.
Show Notes:

The Buy Now, Pay Later Compliance Checklist: https://bit.ly/3EWze5e
Top 5 Buy Now, Pay Later Compliance Issues Across Merchant Sites: https://bit.ly/3B40P37
The Buy Now Pay Later International Regulation Map: https://bit.ly/3VncMZS

Next Episode

CFPB Complaint Risk Signal Report Pt. 1

We’re starting this season of our COMPLY podcast discussing one of our top annual content pieces - the CFPB Compliant Risk Signal Report. Every year we analyze the consumer complaints submitted to the Consumer Financial Protection Bureau and the compliance risk signals they present to financial institutions.

The CFPB uses this consumer complaint data to guide its supervisory and enforcement activities and today’s discussion focuses on:

Big-picture complaint trends over the past year
Increased complaints submitted by special groups
Continued regulatory scrutiny on fair lending
The latest happenings in the BNPL industry and expectations for this year
Bank-fintech partnerships and the increasing importance of compliance

Show notes:

COMPLY: The Marketing Compliance Podcast - BNPL Market Trends and Consumer Impacts Pt. 2

Transcript

Speaker 100:00:04.980

Hey there , pie Podcast listeners. Our episode this week is part two of a conversation on the current and future regulation of the Buy Now pay later industry. It features Alan Kalinsky and Lisa Lanam , two thought leaders from Ballard Spa and perform Lines own s e p John Zarella . If you haven't listened yet, I would suggest you go back and listen to our previous podcast episode that has part one of this conversation. They discuss where the indus