FINREG

Australia hits buy-now-pay-later sector with consumer credit law

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Australia hits buy-now-pay-later sector with consumer credit law

BNPL providers must carry out background checks before lending Must notify customers when credit limits increase Zip COO: Change would mean “business as usual” SYDNEY, May 22 (Reuters) – Australia said it would regulate buy-now-pay-later services as a consumer credit product under new laws, forcing BNPL providers to carry out background checks before lending in … [Read more…]

Sen. Warren seeks details on ‘troubling’ sale of First Republic to JPMorgan

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Sen. Warren seeks details on ‘troubling’ sale of First Republic to JPMorgan

WASHINGTON, May 18 (Reuters) – U.S. Senator Elizabeth Warren is questioning federal bank regulators on their decision to sell First Republic Bank to the nation’s largest bank, JP Morgan Chase. In a letter sent to the Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation Wednesday, Warren said the deal was “deeply … [Read more…]