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 … Continue reading FCA Tightens “Buy Now Pay Later” Policies on Consumer Debt
Calls today came for the resignation of Bob Diamond the boss of Barclays Bank after the bank has been found to have adjusted the inter-bank lending rate – known as the The Libor rate (the average interest rate that leading banks in London charge when lending to other banks) to it’s own favour. David Cameron says Barclays has “serious questions to answer” over Libor fixing and George Osborne describes the scandal as a “shocking indictment” of the banks amid calls for the bank’s chief executive Bob Diamond to resign. George Osborne on Thursday threatened tougher sanctions for banks after Barclays … Continue reading Barclays and Libor Fixing
