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This article contains summaries of news stories recently posted under offerings by integrating loans into Walmart's checkout
Breaking Industry News on our homepage. For links to these and other systems.
full news stories, please visit www.greensheet.com/breakingnews.php.
The deal is expected to boost Klarna's valuation and reach,
while offering consumers streamlined access to credit
via the OnePay app. Klarna's CEO hailed it as a "game
changer," while OnePay's CEO emphasized making fair
credit more accessible. The collaboration reflects fierce
fintech competition and growing demand for flexible
payment solutions.
Consumers hammered by fraud losses
Senator raises concerns over X Money-Visa deal
U.S. consumers lost $12.5 billion to fraud in 2024, a 25
Senator Richard Blumenthal raised concerns about Visa's percent increase from 2023, according to the FTC. Experts
deal with X Money, the financial arm of Elon Musk's believe the actual figure may be far higher, as many
platform X. Blumenthal questioned Visa CEO Ryan victims don't report fraud. Investment scams led with $5.7
McInerney about X's ability to protect consumers, and billion in losses, followed by imposter scams. Business/
cited Musk's alleged efforts to weaken the Consumer job opportunity scams surged, with employment agency
Financial Protection Bureau through DOGE. Critics scams growing fivefold since 2020. Bank transfers and
believe dismantling the CFPB benefits firms like X Money crypto payments platforms saw the most fraud-related
by sidestepping oversight. losses. Check fraud alone accounted for $24 billion in
losses.
Blumenthal warned of potential data misuse, noting
concerns about bot activity promoting cryptocurrency The FTC, which issued $319 million in refunds in 2024,
scams. With key consumer protections under threat and noted scammers often use email, phone and text to deceive.
lawsuits against fintechs withdrawn, lawmakers have Suspicious activity reports tied to fraud have jumped 51.8
been debating who will regulate nonbanks. Blumenthal percent since 2020. Experts warned that AI is making
joined Senator Elizabeth Warren in criticizing actions that scams more sophisticated.
weaken consumer safeguards, enabling big tech firms to
bypass financial scrutiny that banks must endure, thereby CFPB no longer wants BNPL covered by Reg Z
gaining unfair advantages. The CFPB plans to rescind its interpretive ruling that buy

Bipartisan credit card bill now, pay later providers are subject to Regulation Z, which
would cap APRs at 10 percent governs consumer credit disclosures and protections. This
shift comes after a lawsuit by the Financial Technology
Senators Bernie Sanders and Josh Hawley introduced Association, representing BNPL firms like PayPal and Zip.
a bipartisan bill to cap credit card APRs at 10 percent,
citing rising debt and exorbitant interest rates harming Under former Director Rohit Chopra, the CFPB asserted
working Americans. President Trump had previously that BNPL digital accounts functioned like credit cards,
promised this cap. Supporters argue that banks borrow at requiring Reg Z compliance. However, with Chopra's
low federal rates yet charge consumers nearly 30 percent dismissal under the Trump Administration and ongoing
interest, trapping them in debt. actions to scale back the CFPB, the agency signaled it
would withdraw the rule. Critics argued the CFPB is
But credit industry groups, including the Electronic being dismantled, jeopardizing consumer protections. A
Transactions Association, oppose the measure, claiming federal court temporarily blocked mass firings of agency
it would reduce access to credit, particularly for subprime staff. Originally created after the 2008 financial crisis, the
borrowers. They warn it could push consumers toward CFPB also faces continued political opposition over its
costlier, less regulated alternatives like payday loans. independence and funding model.
Data cited includes average household credit card debt of
$21,000 and rising delinquency rates. Also find us on Facebook,
A new era of consumer financing at Walmart LinkedIn & Twitter for the

Walmart partnered with Klarna and its OnePay platform most up-to-date stories,
to offer buy now, pay later loans. Customers will be able can’t miss events and newest
to finance purchases online or in-store with installment industry announcements.
options ranging from three to 36 months. Klarna replaced
Affirm as Walmart's exclusive BNPL provider, marking
a strategic shift amid Klarna's IPO push. OnePay, backed
by Walmart and Ribbit Capital, is expanding its fintech

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