In recent years, a claim “buy first and then pay”. Small credit services similar to “Huayan” have emerged in Europe. From large shopping platforms to official store stores, they all provide consumers with such credit services. Consumers can purchase products through lending institutions, and then repay the loan in installments within the specified time. In the UK alone, about 17 million people have used this type of service, of which 30%are young people under 30.
This new type of credit products also attracted the attention of the financial regulatory authorities. British financial regulatory agencies warned consumers that consumers need to clearly understand that there is a series of risks using such credit services. At the same time, the agency rectified and deleted the network promotion activities of 4,226 services on the grounds that risks were not clearly stated, and stated that it had planned the plan to include this new credit form into supervision.
This plan stipulates that loan providers must obtain permission from the British Financial Behavior Regulatory Authority (FCA). In promotional activities, consumers must point to consumers, such as: the risk of debt that cannot repay, the consequences of overdue repayment, and credit files. Potential effects and may need to pay credit interest. The person in charge of the institution said, “It is necessary to ensure that consumers, especially consumers in a weak environment, get the right information at the right time so that they can make a decision to be effective, timely and appropriate.”
Post time: Aug-24-2022