Credit Bureaus to Lenders: Report Buy Now, Pay Later Consumer Loans

According to the New York Times, credit bureaus are urging Buy Now, Pay Later (BNPL) lenders to report these loans to the bureaus to help borrowers create a credit history. However, some lenders have been resistant, noting the relatively short duration of BNPL loans and potential adverse impact to consumer credit histories. Despite that resistance, Apple recently announced that they will be reporting BNPL loans to the credit bureaus, a move that may lead other lenders to follow suit.