BNPL Firms Have Welcomed Increased Scrutiny of the Industry but Some Say FCA Oversight Will Dent Sales

Buy Now Pay Later (BNPL) firms have welcomed more scrutiny by regulators amid concern over young shoppers’ debt but some argue the clampdown could significantly dent UK sales in the sector. A review published by the Financial Conduct Authority (FCA), which regulates financial services firms and markets in Britain, concluded the FCA should regulate the BNPL industry “as a matter of urgency” as there was “significant potential for consumer harm”.
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