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'Buy now, pay later' firms banned from backdating interest on money you've already repaid - MSE News
Former_MSE_Naomi
Posts: 519 Forumite
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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''Buy now, pay later' firms banned from backdating interest on money you've already repaid'
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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...0
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