BNPL Task Force
The BNPL taskforce is made up of the leading global and Canadian fintechs. The goal of the task force is to enable the Buy Now Pay Later (BNPL) sector to proactively work with key stakeholders including consumer groups, government, regulators and companies in the BNPL Industry to better service the Canadian market. The group will develop standards to advance consumer protections and provide open access to credit.
Any code will build on the lender certification standards establish by the CLA member community by:
- Complying with the regulatory environment that protects business and consumers from predatory practices, including consumer protection and consumer reporting laws, Canada’s Anti-Spam Legislation and privacy laws.
- Not participating in Canada’s payday loans industry, in any province or territory in Canada.
Upholding CLA Lenders Values detailed in the CLA lender certification
See: CLA’s Advocacy and Regulatory Principles
Bonny Murray (Blakes) is joining the committee as a resource.