@Tekvest"Proposed regulation was made 6 months ago"....thats the official government/asic response.
It did not happen overnight either.
Regulation and effects were being discussed since day 1. i.e....what risks are there to BNPL model - lending regulation.
BNPL models were originally created and had success only because of the loophole of non-regulated lending that they could exploit. Therefore regulation was a discussion from day 1 as a risk from a company view and investor view.
You will probably (should) find in the risk section of all BNPL companies prospectus a section on financial regulation.
But nah...heard it here first.
FYI..you have to be clueless to listen to the BNPL state they are open to regulation and believe it. "Not all BNPL are against regulation"...clueless.
They say this as a PR mechanism as it would be a very very bad look on them if they bluntly say....NO we do not want regulation it possibly hurts our business. That would suggest they have no consideration for consumers and would force regulation through that resistance. Its a passive statement to delay regulation, a very common tactic to downplay.
