Levchin: Affirm does not charge late fees to consumers
Max Levchin · a16z Podcast | Building Affirm, and Why Max Levchin Has Watched Seven Samurai 100-Plus Times · Jan 2, 2019 · at 17:36
Max Levchin explains Affirm's consumer credit policy and commitment to alignment with borrowers.
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“And if you're late, we're not going to charge you a late fee because that's our fault. We didn't remind you correctly. And when we made the underwriting decision, we made the choice to take you on as a risk and that that's, we're going to have to stick with.”
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