Government says new rules could help protect 10 million consumers from ‘unconstrained borrowing’

Ministers have promised to clamp down on unregulated buy now, pay later firms and offer stronger protection for consumers, as the government launched a long-awaited consultation on rules to regulate the booming sector.

The Treasury said new proposals would mean buy now, pay later (BNPL) products would be regulated by the Financial Conduct Authority, while consumers would be given the right to have their complaints reviewed by the financial ombudsman.

Continue reading…

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Rishi Sunak’s football video is a political own goal | David Mitchell

The PM’s scattergun attempts at image projection tell us nothing about who…

Eight children and an adult die in Zanzibar after eating sea turtle meat

Another 78 people taken to hospital after consuming delicacy, which is known…

Buy To Let landlords battle four horsemen of the Apocalypse

Hit by a storm: Landlords are warning that their finances are on the…