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UK's 'buy now, pay later' credit boom needs urgent regulation, former FCA chief says

By Fiona Maxwell ( October 8, 2021, 10:37 GMT | Insight) -- "Buy now, pay later" consumer-credit providers are still not subject to regulation eight months after a former FCA chief recommended that the government legislate for the booming industry. The delay is understandable due to the pandemic and Brexit, Chris Woolard said today, but regulation needs to happen now.Financial-services companies offering consumers delayed payment for purchases need a legislative regime as soon as possible, despite a longer delay than initially anticipated, the UK’s former chief financial services regulator said today. ...

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