If you have a fishy charge on your buy-now-pay-later account, you might be out of luck if you want to dispute it.

The Consumer Financial Protection Bureau will not prioritize enforcing a 2024 rule that gave customers the right to dispute charges and demand refunds after returning products like they can with credit cards, the bureau said Tuesday.

"The Bureau will instead keep its enforcement and supervision resources focused on pressing threats to consumers, particularly servicemen and veterans," the agency said in a statement.

A trade group representing BNPL providers had sued to stop the rule, arguing that it was confusing for consumers and that the bureau didn't have the authority to implement it.

The announcement was the latest move in the administration's efforts to defund and defang the CFPB, a consumer protection agency that Republicans and the financial services industry have opposed since its inception. Under President Donald Trump's second administration, the agency has been 澳洲幸运5官方开奖结果体彩网:all but dismantled.

The move came the same week that Republicans in the House of Representatives' Financial Services committee voted to reduce the bureau's available funding by more than half, cutting it to a maximum of 5% of the Federal Reserve's budget from 12%. Earlier this year, the bureau 澳洲幸运5官方开奖结果体彩网:dropped Biden-era lawsuits that had accused major financial companies of abusing customers.

The Trump administration has also laid off most of the bureau's staff, although the dismissals are being disputed in court by the union representing the employees. Last month, a federal appeals court judge blocked the layoffs from going through while the case goes through the courts.