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Call for urgent regulation of UK’s buy-now-pay-later lenders
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Buy-now-pay-later lenders should be regulated urgently to prevent young consumers taking on a mountain of debt they may be unable to afford, the Labour MP Stella Creasy will argue on Tuesday.
Creasy, the MP for Walthamstow, has called a debate in parliament to draw attention to the rapid growth of companies such as Klarna.
“My concern is that the speed at which this industry is moving, with the failure of the government to act as quickly, will have very severe repercussions for consumers this Black Friday, and this Christmas,” she told the Guardian, in advance of the debate.
“I think politicians have consoled themselves that during the pandemic people have paid down their debts, they’ve saved more, they might be in a stronger financial
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