States Warn 'Buy Now, Pay Later' Companies
Update: 2025-12-02
Description
Connecticut Attorney General William Tong and officials from five other states issue warnings to major buy now, pay later companies, expressing concerns about aggressive marketing tactics. The companies, including Afterpay, Affirm, Klarna, PayPal, Sezzle, and Zip, are urged to be transparent about terms and conditions. This action comes after a federal rule change, leaving states to protect consumers from potential debt traps, as buy now, pay later transactions are projected to reach nearly $700 billion by 2028.
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