U.S. House fintech bills ignite fresh fight over BNPL and earned wage access safeguards
House lawmakers reviewed four fintech draft bills Tuesday, focusing on buy-now-pay-later and earned wage access. Consumer advocates called for stronger protections, citing high costs and fees, while industry groups pushed for a unified federal framework. The Consumer Financial Protection Bureau reported BNPL users rose to 53.6 million in 2023, with loan use and average amounts both up from 2022.