BNPL laws delayed until new year amid legislative drafting constraints
James EyersSenior Reporter
New laws to regulate buy now, pay later providers have been delayed due to resourcing pressures on the federal government’s legislative drafting teams.
Financial Services Minister Stephen Jones said the government still intended to bring BNPL under credit laws and introduce proportionate responsible lending obligations on the popular short-term loans. But he confirmed it would not hit an expected deadline to produce draft legislation this year.
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