The American Fintech Council (AFC) has sent a comment letter to the Oregon Department of Consumer and Business Services (DCBS), Division of Financial Regulation, asking for a “more tailored” regulatory treatment of buy now, pay later (BNPL) providers. Currently, Oregon intends to treat these platforms like payday lending services. Some payday lending providers have a poor reputation for charging excessively high fees to borrowers, while some BNPL providers boast about lower rates for consumers in need of credit. AFC explains that “applying regulations designed for high-cost payday lending could increase regulatory uncertainty, and fail to reflect the products’ distinct structure.” Phil Goldfeder, CEO of the AFC, states:“Responsible BNPL providers offer important financial options to safely and affordably meet the evolving financial needs of consumers.