In the Headlines
May 13, 2025
New York Tightens BNPL Rules As the CFPB Pulls Back
American Banker
Financial Services attorney Eamonn Moran was quoted in an American Banker article about New York State's new licensing and oversight framework for Buy Now, Pay Later (BNPL) providers included in the 2026 budget. Mr. Moran highlighted that the state's regulatory approach comes as federal oversight by the Consumer Financial Protection Bureau (CFPB) retreats, creating an opening for state-level action.
"There were no fewer than three separate bills in New York introduced this year to regulate BNPL," he said. "...Part of the issue here is that the legislators are viewing state action in this space as more urgent now, given the attention that's not being paid to BNPL at the CFPB federal level."
READ: New York Tightens BNPL Rules As the CFPB Pulls Back (Subscription required)
"There were no fewer than three separate bills in New York introduced this year to regulate BNPL," he said. "...Part of the issue here is that the legislators are viewing state action in this space as more urgent now, given the attention that's not being paid to BNPL at the CFPB federal level."
READ: New York Tightens BNPL Rules As the CFPB Pulls Back (Subscription required)