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Affirm is expanding its partnership with New York Life Insurance , a move that highlights how traditional financial giants are deepening their exposure to fintech -driven consumer lending.

Under the new agreement, New York Life will purchase up to $750 million worth of Affirm's installment loans through 2026, giving the payments company fresh off-balance-sheet funding to support roughly $1.75 billion in annual loan volume.

The deal extends a relationship that began in 2023, when New York Life first started investing in Affirm's asset-backed securities and other loan structures.

To date, the insurer has funneled nearly $2 billion into Affirm's collateral pools.

The partnership is part of a broader tren

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