ANZ’s Elliott sees best economic conditions in six years – The Sydney Morning Herald

In a wide-ranging hearing, Mr Elliott said BNPL operators are extending credit to customers without the same oversight as banks.
BNPL businesses, which allow customers to pay for purchases through interest-free instalments, are not required to conduct credit checks on their customers because they do not charge interest. The sector is booming, with Afterpays market value sitting near $37 billion.
When asked if BNPL regulation was appropriate, Mr Elliott replied: I wasnt aware there was any.
While…

Click here to view the original article.