The Consumer Financial Protection Bureau demanded information from the biggest buy now-pay later providers Thursday, saying it’s concerned that consumers using the popular financing tool may accumulate too much debt as their purchasing data is mined for marketing.
In a press release announcing the order, the federal agency said it’s seeking information on the “risks and benefits of these fast-growing loans” from the companies Affirm, Afterpay, Klarna, PayPal and Zip.
