Conference track
Practice tool type
Issued:
Date
2020
Description
New types of point-of-sale (POS) finance have exploded, both for online and in-person purchases and even car repairs. Many are “fintech” start-ups, some are alternatives to credit cards, some claim to be free or not to be loans, and others evade state interest rate caps that don’t allow 179% APR loans. POS products can take the form of loans (Affirm, Klarna, Uplift, EasyPay, DigniFi), installment sales (AfterPay, QuadPay, Sezzle), or "virtual leasing" operating under rent-to-own laws (Progressive, Snap, Acima). This session will describe the new landscape, point out problems and the communities targeted, and explore theories to attack abuses.
