HM Treasury’s (HMT) latest consultation on the UK regulation of Buy-Now Pay-Later lending (BNPL) includes welcome clarification regarding the scope of regulation and the application of exemptions, plus proposed draft amendments to the existing legislation. We examine the ambit of future regulation, where further clarification is required and the likely impact on consumer experience.
1 MAY 2023The de-banking of customers, and the legal and regulatory implications that can arise, are not new issues. However, those issues have come into sharp focus following recent publicity surrounding a high-profile account closure. This In Practice article considers what payment services firms can expect next following the increased scrutiny from customers, media, government and the regulators.
1 FEB 2024