Seven Democratic state attorneys general are turning up the heat on Buy Now, Pay Later platforms. They've sent formal requests demanding transparency around loan structures, fee calculations, and how these companies assess whether users can actually afford the repayments.

This coordinated move signals growing concern about installment loan products that've exploded in popularity. Regulators want to know if BNPL providers are doing enough due diligence before extending credit—or if they're setting consumers up for debt spirals.

The inquiry focuses on three pressure points: what these loans truly cost borrowers, how repayment terms are structured, and whether affordability checks are rigorous enough. As BNPL becomes the go-to payment method for millions, expect this scrutiny to reshape how the industry operates.