Buy now, pay later models are gaining popularity. What are the risks?

The rapid growth among players in the buy now

pay later space has caught the attention of a federal agency focused on consumer protection.

The Consumer Financial Protection Bureau launched an inquiry into buy now

pay later (BNPL) credit late last year

A new survey from the bureau found BNPL loans have been taking off in recent years

There were 180 million loans worth $24 billion

among just five firms in 2021, almost a tenfold increase from 2019.