Yabba Dabba Doo! CFPB Backs Off on Buy Now, Pay Later Rules!

Great Gazoo! What's This 'Buy Now Pay Later' Thing?

Yabba Dabba Doo! Your pal Fred Flinstone here reporting live from Bedrock! I just heard from a little birdie… or maybe it was a Pterodactyl… that the Consumer Financial Protection Bureau (CFPB) is doin' a little jig. Apparently they're backin' off on some rules about these fancy new 'Buy Now Pay Later' gizmos. Sounds like somethin' George Jetson would use not us cave folk! Back in my day we bartered with clamshells! Now they got this Buy Now Pay Later sounds like a rock solid scam if you ask me!

Biden's Rules Get the Dino Dust Treatment

So get this: President Biden put some rules in place that made these 'Buy Now Pay Later' companies act like… get this… credit card companies! Imagine Wilma havin' to deal with even MORE paperwork just to buy a new dino skin dress! These rules meant the companies had to be clearer about payments refunds and even listen to folks when they got into a dino sized dispute. But now under President Trump they're sayin' 'Eh never mind!'.

Affirm's Yabba Dabba DON'T!

One of these 'Buy Now Pay Later' fellas called Affirm was sayin' these rules were more confusing than tryin' to understand Barney's directions! They reckon it's like tryin' to fit a square rock into a round hole. They argued that these rules would just confuse customers and make things harder than chasin' a runaway baby pterodactyl! "Yabba Dabba Don't!" they told the CFPB!

CFPB Says 'Hold That Bronto Burger!'

Now the CFPB's saying they need to focus on bigger fish – or should I say bigger dinosaurs? They want to help our brave soldiers veterans and even those small businesses that keep Bedrock runnin'. So they're thinking about scrapin' these rules altogether! It's like sayin' 'Wilma you can have that extra rib roast… for now!' But remember Wilma always says 'Oh Fred'.

Fintechs Throw a Dino Sized Tantrum… Then Sue!

These 'Fintech' companies got their dino skin diapers in a twist! They're sayin' the CFPB went too far by treatin' them like credit card companies. So they did what any self respecting… well fancy business would do. They sued! Can you believe it? They said the CFPB was makin' up rules instead of followin' the proper channels. It's enough to make a caveman's head spin faster than a bowling ball!

Trouble in Bedrock? BNPL Users in a Bind!

But here's the rub folks. Seems like folks are havin' trouble keepin' up with these 'Buy Now Pay Later' things! A survey showed that nearly half of the folks usin' these services are gettin' into financial trouble. They're usin' it to buy groceries! Groceries! That's like payin' next week for today's Bronto Burger! Missed payments are on the rise. Sounds like someone's gotta tell 'em 'Think Fred think!' or 'Yabba Dabba Doo I owe who?!