Britain will soon lay out new plans to regulate 'buy now, pay later' firms like Klarna after delays
Publishing timestamp: 2024-07-25 07:14:37
Summary
The U.K. government plans to regulate "buy now, pay later" plans soon, following delays and setbacks. The industry has faced criticism for contributing to consumer debt, and some major players in the sector are advocating for regulation to protect consumers and ensure industry standards. The Financial Conduct Authority may end up regulating the BNPL industry within the next 24 months.
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Source: https://www.cnbc.com/2024/07/25/bnpl-britain-plans-new-regulations-after-setbacks.html