Podknife - Buy Now Pay Later providers to face tougher regulation by RN Breakfast

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Buy Now Pay Later providers to face tougher regulation

Podcast |: RN Breakfast - Separate stories podcast
Publisher |: ABC Podcasts
Media Type |: audio
Podknife tags |: Australia,; Interview,; News & Politics,; On The Radio
Categories Via RSS |: Daily News,; News
Publication Date |: Mar 13, 2024
Episode Duration |: 00:06:55

Buy Now, Pay Later schemes are designed to help people stagger their expenses, but increasingly, consumers are using these services to buy essentials like food and medication.

New legislation has been drafted to bring these services under the Credit Act. But will it give consumers more protection and prevent them from becoming trapped in unaffordable debt spirals?

Guest: Drew MacRae, Senior Policy & Advocacy Officer at Financial Legal Rights Centre

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