Of the new consumer financial products offered by FinTechs, neobanks, and traditional financial companies, few have gained such rapid market acceptance – or media attention – as Buy Now Pay Later. This new product promises to be a focus of the Consumer Financial Protection Bureau (CFPB) in the Biden Administration. We expect the CFPB will use its full range of enforcement, regulatory, and supervisory tools to ensure that all variations of Buy Now Pay Later comply with the consumer financial protection statutes, especially the Consumer Financial Protection Act’s UDAAP (unfair, deceptive, or abusive acts or practices) standard.
Join us on Wednesday, September 15, for a webinar to discuss the CFPB’s enforcement, regulatory, and supervisory priorities for this important and innovative financial product.
Sidley partner Thomas Ward, who recently served as the CFPB Enforcement Director and oversaw the formulation of the enforcement priorities that can be expected to guide the CFPB in the years to come, including in the FinTech space, will discuss the CFPB’s Buy Now Pay Later enforcement and supervision priorities.
Sidley partner John Van De Weert, who regularly advises FinTech clients, counseling on the regulatory complexities of offering financial products and services through new channels, and who works extensively on partnership programs between banks and non-bank entities to offer innovative financial programs, will address the CFPB’s Buy Now Pay Later regulatory and rule-making priorities.
Thomas G. Ward, Partner; Former CFPB Enforcement Director
John K. Van De Weert, Partner
For additional information regarding this event, please contact firstname.lastname@example.org.