Core Insights - The average dollar value of buy now, pay later (BNPL) loans increased to $848 in 2023 from $745 in 2022, marking a 14% growth [1][3] - The total dollar value of BNPL loan originations grew by 23% in 2023 compared to 2022, but this growth rate is slower than previous years [3] - The proportion of late fees decreased from 5.2% in 2022 to 4.1% in 2023, and charge-offs also declined from 2.63% in 2022 to 1.83% in 2023, indicating improved repayment rates [4] Industry Overview - The Consumer Financial Protection Bureau (CFPB) released a study on BNPL loans for 2022 and 2023, which included data from six major BNPL companies representing about 40% of the point-of-sale financing market [5] - The BNPL industry is currently facing regulatory scrutiny, with a shift in oversight under the Trump administration compared to the previous Biden administration [6][7] - Recent inquiries from senators and state attorneys general have sought information from major BNPL players regarding user demographics and payment behaviors [7]