The CFPB announced on May 6, 2025, that it will not
prioritize enforcement actions taken on the basis of its Buy Now,
Pay Later (BNPL) interpretive rule (89 Fed. Reg. 47,068), which was
issued in May 2024.
In what has now come to be a common pronouncement from the
agency, the CFPB states that it "will instead keep its
enforcement and supervision resources focused on pressing threats
to consumers, particularly servicemen and veterans." Further,
the CFPB also states that it takes this step "in the interest
of focusing resources on supporting hard-working American
taxpayers, servicemen, veterans, and small businesses."
Finally, the CFPB notes that it "is further contemplating
taking appropriate action to rescind" this interpretive rule.
This does not come as a surprise, as earlier this year the CFPB
indicated its intent to revoke the rule through a status report and
filing of a joint motion to stay in a case challenging the
interpretive rule.
