Blog: Buy-Now-Pay-Later Lenders to Get Tighter Regulation in the UK – Bloomberg

The UK government is tightening rules on buy now, pay later loans to try to prevent borrowers from taking on unaffordable debts. 

After months of consultations, the Treasury confirmed that lenders will be required to carry out affordability checks on customers and ensure advertisements are fair. Providers will need to be approved by the Financial Conduct Authority and borrowers can take complaints to the Financial Ombudsman Service.

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