Equipping professional accountants for sustainability
The International Federation of Accountants has developed a concise resource to guide accounting professionals and...
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An estimated 7 million "buy now pay later" users could soon see new laws introduced by the federal government that aims to better protect them against financial abuse.
A new Treasury paper released by Financial Service Minister Stephen Jones on Monday suggested buy now pay later players could soon be subject to the same laws as credit card providers, as "unaffordable or inappropriate lending practices are contributing to financial stress and hardship, and other types of consumer harm".
The paper said there were 7 million active buy now pay later accounts in the 2021-22 financial year resulting in $16 billion in transactions, an increase of almost 37 per cent on the previous financial year.
Read more at ABC News