Each year, upwards of 100,000 music fans pay up to $599 for the ticket price of weekend-long admission to the Coachella Music and Arts festival outside of Palm Springs, California. In 2025, however, nearly 60% of Coachella’s general admission ticket buyers turned to an increasingly ubiquitous short-term loan service to finance the steep cost of admission: Buy Now, Pay Later (“BNPL”). BNPL financial services typically allow consumers to split purchases into four or fewer interest-free installments, often without a traditional credit check. The organizers of Coachella, for example, partnered with a ticketing provider AXS to provide BNPL options allowing festival attendees to purchase tickets for as little as $49.99 up front with the remaining costs due in installments over the next several months.

The change in the White House administration combined with a potential ground-breaking Supreme Court decision may move the oversight and enforcement for marketing by the fintech sector from the Federal Trade Commission (“FTC”) to the Consumer Financial Protection Bureau (“CFPB”).  This would be a tectonic shift.