Recently, Apple unceremoniously dropped Apple Pay Later, which already felt like an odd, risky choice for the brand, not even a year after launching the small loans program.

Why? Regulation, according to Bloomberg’s Mark Gurman:

In May, the Consumer Financial Protection Bureau announced increased scrutiny of “buy now, pay later” services, saying providers would need to follow the same regulations as credit card companies ... The increased regulation wasn’t something Apple wanted to deal with, I’m told ...