The government announced last week (19 April) that local authorities will be able to force landlords to rent commercial property on high streets through a
One month since "non-essential" retail reopened in England and Wales on 12 April, retailers say the outlook is positive. Regional stores and independents
Regulation will ‘build trust’ in buy-now-pay-later market
Regulation will help clear-up product confusion and build trust in the buy-now-pay-later (BNPL) market, industry experts have said.
Yesterday, the government announced plans to regulate the BNPL market. This followed the publication of the Woolard Review, an evaluation of the unsecured payment market launched in September.
As part of the review’s proposals, BNPL products will be regulated by the Financial Conduct Authority (FCA), and customers will be able to escalate complaints to the Financial Ombudsman.
Lenders will also be required to carry out affordability checks on customers as part of the proposed regulations.