FCA Tightens “Buy Now Pay Later” Policies on Consumer Debt
Britain’s financial watchdog said on Monday it had told four “buy now pay later” firms (“BNPL”) to change their contracts after identifying “potential harms” to consumers. BNPL firms, which are unregulated, typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The market more than trebled Continue Reading