Afterpay, a buy-now, pay-later company, is facing a putative class action lawsuit in a California federal district court. The complaint alleges that Afterpay misled customers in representing that its services allowed customers to “pay for purchases at a later date, with no interest, no fees, and no hassle” when “there are huge, undisclosed fees and

Last week, Barbara Mishkin posted generally on the CFPB’s overdraft fee initiative. I found the CFPB’s prototype “penalty fee box” particularly interesting and have a few comments: 

  • While it is certainly possible that the CFPB will both require targeted disclosures and sharply circumscribe consumer choice, I take some hope from the penalty fee box