Martin Lewis has hit out at the “painfully slow” process of regulating the buy now, pay later (BNPL) sector.
The MoneySavingExpert said families face a “bleak winter” as the new measures to protect people from taking on debt they can’t afford won’t come in until “likely 2024”.
Under the new regulation, BNPL lenders will be required to carry out affordability checks and make sure their advertisements are clear and not misleading.
