Commonwealth Bank (ASX:CBA) CEO hits out at Afterpay and BNPL providers

Commonwealth Bank of Australia (ASX: CBA) CEO Matt Comyn has hit out at Afterpay Ltd (ASX: APT), Zip Co Ltd (ASX: Z1P), and other buy now, pay later (BNPL) providers. Testifying before the House Standing Committee on Economics, Comyn didn’t mince his words when talking about the increasingly popular sector.

“I would acknowledge the work and innovation that they’ve undertaken to build such a, in some instances, large and successful company, and avoiding all of that regulation is quite a feat,” Mr Comyn said in response to questions about the BNPL sector.

Commonwealth Bank, however, is also a member of that industry. Through