Credit: Public Consultation
(asked on 14th September 2021) - View Source
Question to the HM Treasury:
To ask Her Majesty's Government when they intend to begin the consultation on the regulation of buy-now-pay-later services, announced following the Woolard Review – A review of change and innovation in the unsecured credit market, published on 2 February.
This question was answered on 28th September 2021
On 2 February, the Government announced its intention to regulate Buy-Now-Pay-Later products. On 17 March, the Government tabled an amendment to the Financial Services Bill (now Act) to allow the Government to bring Buy-Now-Pay-Later products into the scope of FCA regulation in a proportionate way. The Government is now working to publish a consultation document soon.