HomeAI · summaries
Storia in 5 fonti
New rules for 10.9 million Buy Now Pay Later customers from Wednesday
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.AllNewsSportCultureLifestyleFrom July 15, Buy Now Pay Later (BNPL) services will be regulated by the Financial Conduct Authority (FCA), requiring lenders to be authorised and adhere to the Consumer Duty. The new regulations aim to provide enhanced protection for the nearly 11 million UK consumers who used BNPL services in the 12 months to May 2024. Lenders will now be required to conduct affordability checks, provide clearer information on payment terms, and offer support to customers experiencing financial difficulties. Consumers will gain the right to complain to the Financial Ombudsman Service (FOS) for agreements made from July 15, covering issues such as affordability and understanding of terms. Experts advise consumers to be aware of the potential impact of BNPL use on their credit reports and to seek free debt advice if they are struggling with payments. In fullBuy Now, Pay Later rules are changing. Here’s what you need to knowMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Confronto fonti
5 prospettive sulla stessa storiaTimeline cronologica
- ·
independent.co.uk
Buy Now, Pay Later rules are changing. Here’s what you need to know
Almost 11 million shoppers used BNPL services in the 12 months to May 2024
- ·
cnbc.com
Consumers turn to buy now, pay later for essential expenses — with growing risks
Some consumers are using buy now, pay later for essential expenses like groceries, rent and utility bills. But more BNPL users have recently had a late payment.
