The United Kingdom government has announced plans to reform the Consumer Credit Act, which regulates credit card purchases and personal loans. The proposed overhaul aims at cutting costs for businesses and simplifying rules for consumers. “The Consumer Credit Act has been in place for almost...
October 17, 2024
The U.K. government said Thursday (Oct. 17) that it aims to provide buy now, pay later (BNPL) users with many of the protections provided by other consumer credit products. It has launched a consultation on proposals to bring BNPL companies under the supervision of the Financial Conduct Authority (FCA) and apply the Consumer Credit Act, […]
