Senate debates

Wednesday, 24 February 2021

Questions without Notice

Banking and Financial Services

2:21 pm

Photo of Stirling GriffStirling Griff (SA, Centre Alliance) Share this | Hansard source

Earlier this month the UK government published a review of the by-now pay-later industry and that review found the industry targets younger and less financially literate users, allowing them to access credit without checks and to hide debts from other lenders. Some users, of course, become trapped with unaffordable debts. That government chose to reclassify the services as credit providers and regulate them accordingly. When will this government do the same?

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