'Buy now, pay later' firms banned from backdating interest on money you've already repaid - MSE News

edited 30 November -1 at 1:00AM in Loans
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edited 30 November -1 at 1:00AM in Loans
Firms which offer 'buy now, pay later' deals won't be able to charge backdated interest on money that's already been repaid, under new rules the financial regulator says will come into effect from November...
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''Buy now, pay later' firms banned from backdating interest on money you've already repaid'
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  • boo_starboo_star Forumite
    3.2K Posts
    Part of the Furniture 1,000 Posts
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    We expect the overall package of measures will save consumers around £40 million-£60 million a year and tackle the harm we identified in this market.

    Unless they just up their interest rates to recoup any money lost due to these measures...
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