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Mr. Parkinson to the white telephone please

The choice to defer payments has been available for more than a decade but became more popular during the pandemic as people relied more on online shopping, and demand for credit was strong.

A review by Christopher Woolard, a former interim chief executive at the Financial Conduct Authority (FCA), found that the deals were a “meaningful alternative” to payday loans, but represented a “significant potential consumer harm”.

Woolard recommended in his 2021 report that legislation be changed “as soon as possible” to ensure that all such products were regulated by the FCA.

Bureaucrat suggests new thing must be regulated by his bureaucracy.

C. Northcote to the white telephone, please.

3 thoughts on “Mr. Parkinson to the white telephone please”

  1. They utterly fucked the legal payday loan market, and they’re shocked, shocked that something else has taken its place?

    The white telephone should be surrounded by lions.

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