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

The rapid growth among players in the buy now

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

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The Consumer Financial Protection Bureau launched an inquiry into buy now

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pay later (BNPL) credit late last year

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

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There were 180 million loans worth $24 billion

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

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