Consumer Debt

DoorDash’s Buy Now, Pay Later Plan: A Worrying Economic Sign?

DoorDash is partnering with Klarna to offer Buy Now, Pay Later (BNPL) options for food delivery, marking an expansion of BNPL services beyond typical large purchases. This allows users to split payments into four interest-free installments or align payments with their pay schedules. While BNPL services have surged in popularity, concerns remain regarding rising consumer debt and lack of regulation. The DoorDash-Klarna partnership coincides with Klarna’s upcoming IPO and reflects the projected growth of the BNPL market to over $160 billion in the next seven years.

Politics

AOC and Luna Team Up on Bill Capping Credit Card Interest at 10%

Reps. Anna Paulina Luna (R-FL) and Alexandria Ocasio-Cortez (D-NY) introduced bipartisan legislation to cap credit card interest rates at 10%, a figure significantly lower than the current average of 28.71%. This proposal, also previously advocated by President Trump, aims to alleviate the burden of high-interest debt on working-class Americans. Opponents, including banking groups, warn that such a cap could restrict credit availability for millions, citing examples from Oregon and Chile where similar policies reduced credit access. While the legislation currently lacks widespread support, it highlights a growing bipartisan concern over the rising cost of credit.

John Q. Hosedrinker Mar 9, 2025

Consumer Debt

DoorDash’s Buy Now, Pay Later Plan: A Worrying Economic Sign?

AOC and Luna Team Up on Bill Capping Credit Card Interest at 10%

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