New CFPB Ruling Gives Credit Unions Offering Post-Purchase BNPL Plans a Competitive Edge
By: Jennifer Bennett, Strategic Product Manager, VeleraSummary: The CFPB recently issued an interpretive rule stating that lenders who offer BNPL meet the criteria for being credit card issuers and must follow the same regulations. Jennifer Bennett, Strategic Product Manager for Velera, discusses this ruling and how it gives credit unions that offer post-purchase solutions a competitive edge over point-of-sale BNPL merchants.
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Author: Jennifer Bennett is a seasoned strategic product manager with over 20 years of experience in the payments industry. Renowned for her expertise, Jennifer has consistently demonstrated leadership and innovation, particularly in her work in the credit union space. Her strategic vision and deep understanding of the financial sector have been pivotal in driving product development and enhancing customer experiences.
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