'Inappropriate lending': Buy now pay later industry to face new regulations to stop financial abuse

abc.net.au/news/buy-now-pay-later-new-laws-regulation-consumers-financial-abuse/101676286An estimated 7 million "buy now pay later" users will soon see new laws introduced by the federal government that aims to better protect them against financial abuse.Buy now pay later players could soon face new regulations, following concerns people are getting credit they cannot afford

The paper said there were 7 million active buy now pay later accounts in the 2021-22 financial year resulting in $16 billion in transactions, an increase of almost 37 per cent on the previous financial year., Zip Pay, humm, and Klarna — can be an easy alternative avenue of credit, often vulnerable and/or younger consumers were at risk."And what we know is lots of people have lots and lots and lots of buy now pay later accounts.

and they say crypto is a scam

Now that all the Canberra lobbyists and ex ministers have cashed out of Afterpay. What a great idea.

Only degenerates buy now pay later.

We need personal finance 101 classes taught in school

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'Inappropriate lending': Buy now pay later industry to face new regulations to stop financial abuseAn estimated 7 million 'buy now pay later' users will soon see new laws introduced that aims to better protect them against financial abuse. A Treasury paper being released today suggests 'unaffordable or inappropriate lending practices are contributing to financial stress and hardship'. We need personal finance 101 classes taught in school Only degenerates buy now pay later. Now that all the Canberra lobbyists and ex ministers have cashed out of Afterpay. What a great idea.
Source: abcnews - 🏆 5. / 83 Read more »