Afterpay should be treated as a lender and should be subject to responsible lending laws, a peak consumer advocacy group has said, as the Senate prepares to look into the buy-now-pay-later sector.
The call for tighter rules governing the nascent, but lucrative sector comes as it emerged Afterpay backflipped over a key regulatory issue.
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
