HM Treasury is consulting on bringing Buy Now Pay Later and other forms of interest-free, short-term credit within the scope of FCA regulation. Learn more here about the important changes proposed, including which products may be caught, what the regulatory requirements might look like and the practical considerations for retailers and lenders.
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...while the government agrees with The Woolard Review about these potential sources of consumer detriment, there is relatively limited evidence of widespread consumer detriment materialising at this stage. Understanding the way in which any consumer detriment is linked to specific aspects of the BNPL business model is critical to ensuring that the scope of regulation is appropriately drawn.
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