The Oregon Department of Consumer and Business Services, Division of Financial Regulation (DFR), has proposed to issue Bulletin No. DFR 2026-X, reminding nonbank “Buy Now, Pay Later” (BNPL) companies and BNPL service providers that they generally must obtain Oregon lending licenses before offering BNPL products to Oregon consumers. Unlike a few other states, Oregon has not enacted a statute that specifically applies to BNPL companies and service providers.
On July 21, 2026, the Federal Trade Commission (FTC) announced a proposed settlement order permanently banning Dennise Merdjanian — a key operator of a Nevada-based student loan debt relief scheme — from the debt relief industry and from telemarketing. The order resolves the FTC’s charges that Merdjanian and her co-defendants took more than $45.9 million from consumers by impersonating the U.S. Department of Education and making false promises of student loan forgiveness.
Traditional methods of coordinating with advisors—such as emailing spreadsheets, uploading files to different portals, or verifying accounts over the phone—are inherently high-risk. These manual processes create multiple copies of non-public information, increasing the attack surface for potential data breaches. The industry is moving away from bulk data transfers and toward a model of trusted connectivity. This shift replaces high-risk exchanges with a secure, privacy-first handshake.
The New York State Department of Financial Services (DFS) has proposed a new regulatory framework that would bring Buy Now, Pay Later (BNPL) providers under formal state oversight, marking one of the most comprehensive efforts to regulate the rapidly growing industry. Published on July 15, 2026, the proposed rule would implement state legislation requiring most BNPL providers operating in New York to obtain a state license and comply with consumer protection standards similar to those that apply to credit card issuers and other consumer lenders.
A member of Congress is urging federal regulators to examine the rapidly expanding “rent now, pay later” (RNPL) industry, raising questions about consumer protections, fee transparency, and the role landlords may play in promoting these payment options. U.S. Rep. Maxwell Frost (D-Fla.) recently sent a letter to Consumer Financial Protection Bureau (CFPB) Acting Director Russell Vought requesting that the agency investigate RNPL providers for potential violations of federal consumer financial protection laws.
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