“The consumer that we serve has not changed in a profound way. They’re not in their personal recession, they’re not struggling to make their bills on time. They’re not telling us, ‘I need help’. It just has not changed,” said Levchin. He also specifically expressed support for a national 36 per cent annual percentage rate cap on BNPL and credit card loans, an idea that consumer groups including the Center for Responsible Lending and the Consumer Federation of America also favour.
