This follows multiple delays to the roadmap for BNPL legislation in Britain. The government first set out plans to regulate the sector in 2021. That followed a review from former Financial Conduct Authority boss Christopher Woolard, which found more than one in 10 BNPL customers were in arrears.
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Britain will soon lay out new plans to regulate ‘buy now, pay later’ firms after delays
“Regulating Buy Now Pay Later products is crucial to protect people and deliver certainty for the sector,” the Treasury spokesperson told CNBC via email Thursday.
