Justin Boggs is a writer for the E.W. Scripps company. Justin covers anything from politics to sports and entertainment.
Credit cards have long been used by some to help people make ends meet. It is now not the only option people are using to pay for necessities.
The Consumer Financial Protection Bureau noted there was a tenfold increase in usage of buy now, pay later programs during the pandemic. Last week, the CFPB issued new rules requiring buy now, pay later services to provide the same type of consumer protections offered to credit card users. However, consumer groups have expressed concern that these programs could cause more people to go into debt by buying items they couldn't otherwise afford.
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