A new class-action lawsuit, filed Monday in Manhattan federal court, accused microlender Affirm Holdings Inc. of violating consumer protection laws in offering “Buy Now-Pay Later” loans to retail shoppers in New York.

The filing targeted Affirm, a Delaware corporation based in San Francisco, over its short-term loans, which the lawsuit said essentially act as a “reverse layaway plan,” allowing customers to purchase a product upfront and then pay installments over time.