Schneider Quoted in Morning Consult on Relationship Between Overdrafting and "By Now, Pay Later"

‘Buy Now, Pay Later’ Users Significantly More Likely to Overdraft Than Nonusers
– Morning Consult

Manatt Financial Services Partner Bryan Schneider was quoted in a Morning Consult article on the correlation between U.S. BNPL users and individuals with overdrafted accounts. 

As the Consumer Financial Protection Bureau looks more critically at this sector, Schneider said that the relationship between overdraft and BNPL usage is something “regulators should be thinking about,” but cautioned that people shouldn’t assume that BNPL “must be a bad product” simply because of the correlation. “That would be entirely too narrow of a focus of a consumer’s financial life,” he said.

Read the full article here.

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