CAP signs joint letter to the Chancellor on Buy Now Pay Later regulation

close up of someone holding up a credit card while looking at a laptop

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

We do not want to see the Government shelve regulation on BNPL at this crucial time. This is especially so because there is already draft legislation, which has been published, that the Government could act on to protect customers.

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