Open letter to the Chancellor on Buy Now Pay Later regulation

Open letter to the Chancellor on Buy Now Pay Later regulation 323 KB

Citizens Advice, along with the heads of MoneySavingExpert, Which?, StepChange, the Money Advice Trust, and Christians Against Poverty have written to the Chancellor Jeremy Hunt, urging him to rethink plans to shelve the regulation of Buy Now Pay Later firms.

We are disappointed by the Government's reported move to shelve regulation on BNPL at a time when millions face a living standards crisis. This move is especially disappointing given that draft legislation is already published and the Government could therefore act swiftly to protect consumers.

We are clear that BNPL is part of the credit industry and must be regulated as such to protect consumers.