Holiday Shoppers Using Credit Serve as Reminder to Policymakers of Need for Enhanced Consumer Protections
WASHINGTON, D.C. – Center for Responsible Lending (CRL) Senior Policy Counsel Nadine Chabrier issued the following statement: “Holiday shopping is ramping up and shoppers are increasingly using new, underregulated credit products like ‘Buy Now, Pay Later’ and ‘Earned Wage Access.’ Retailers are also facilitating predatory point-of-sale loans for purchases including for puppies and jewelry. Policymakers should use this moment to...