The Hidden Dangers of ‘Buy Now, Pay Later’ Apps

But consumer advocates are skeptical. Marisabel Torres, the director of California policy at the Center for Responsible Lending, says “Buy Now Pay Later” is a misnomer. These are short-term loans paid back in installments, with terms that can vary dramatically. Some include late fees but not…

Link: The Hidden Dangers of ‘Buy Now, Pay Later’ Apps
via http://www.wired.com

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