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US Banking Regulator Warns on Risks of ‘Buy Now, Pay Later’

Platforms in China, the world’s largest e-commerce market, have recently described a “value-for-money battle” stoked by economic insecurity and a slower-than-expected retail recover.
The statement was the latest sign that federal regulators are scrutinising the increasingly popular form of consumer credit. (Shutterstock)

A top US banking regulator on Wednesday warned banks to manage the risks to consumers posed by increasingly popular “buy now, pay later” financing for retail spending, saying the service creates pitfalls for retail shoppers.

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