BNPL is now the second most common form of consumer credit used by young Australians - except technically it’s not credit.
Buy now, pay later is a booming business. But be warned before you invest in it – or use it as a customer.
In the years after the second world war, credit was in short supply.
Consumer spending fuelled by credit cards and bank loans has become central to economic growth, but it wasn’t always.
After the pandemic, borrowing is set to skyrocket.
UK government put caps on payday loans five years ago, but they have not gone away – and will be in great demand in the months ahead.
A little cash can be costly.
AP Photo/Sid Hastings
Use of installment loans has grown dramatically in recent years – all without the regulatory scrutiny that tamped down on abuses in the payday loan market.
New Fed chair Jerome Powell has some tough choices ahead.
The data shows a tricky balancing act for policy makers. Interest rates will need to rise but too quickly could squash the recovery.
New credit information-sharing rules promise to open up the consumer credit market to increased competition.
The government needs to learn from the mistakes in the US in sharing our credit history information to third parties.
Republicans have been opposed to the CFPB since it was created.
Republicans are hoping to eliminate or at least defang the only federal agency tasked solely with protecting consumers from financial abuses. What would we miss if they succeed?
Can an algorithm explain itself?
Robot decision via shutterstock.com
A European Union law will require human-understandable explanations for algorithms’ decisions. A team of researchers has found a way to provide that, even for complex calculations.
There will always be lenders happy to fund customers at high interest rates. But alternatives are needed for the financially excluded.
Image sourced from Shutterstock.com
The number of Australians getting caught in a repetitive cycle of payday loans is growing, but in many cases they have little choice.
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Bills, bills, bills.
bills and stethoscope via vichie81/Shutterstock
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Black in the UK. Signs of change.
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