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Daily Mirror
Daily Mirror
Business
Levi Winchester

Buy now, pay later firms set for major crackdown under new rules to protect borrowers

BNPL Financial Conduct Authority Experian Klarna Laybuy

Buy now, pay later (BNPL) firms are set to face tougher rules as part of a proposed clampdown that would offer greater protection for borrowers.

A new consultation has launched today and will look at how BNPL products could be brought under Financial Conduct Authority (FCA) regulation.

Customers will also be able to take complaints about companies to the Financial Ombudsman.

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