A new class action lawsuit filed Monday in federal court in Manhattan accused micro-lender Affirm Holdings Inc. of violating consumer protection laws by offering "buy now, pay later" loans to retail shoppers in New York.
The lawsuit was directed against Affirm, a Delaware corporation based in San Francisco, for its short-term loans, which the lawsuit says essentially act as a "reverse layaway plan" that allows customers to purchase a product in advance and then use it Paying installments over time.
