‘Buy now, pay later’ fad could have redeeming qualities — with proper use and regulation

Consumers don't always use

Consumers don’t always use “buy now, pay later” wisely. Image: Getty

The writer is former Chair of the FDIC and former Assistant Secretary of the U.S. Treasury for Financial Institutions.

Should government regulators crack down on financial products whose profitability depends on our proclivity to act impulsively? What if the target market consists of younger, less financially sophisticated borrowers, more prone to acting now and thinking later?

That is the question presented by the latest and…


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