For years, Buy Now Pay Later has been the wild west of British spending.

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One in five adults has used it, lending topped £13 billion in 2024, and yet the sector operated with almost none of the safeguards that cover a humble credit card. From today, that changes and it's about time.

From 15 July, the Financial Conduct Authority (FCA) starts regulating Deferred Payment Credit: the interest-free instalment deals offered at millions of online and in-store checkouts. Lenders will finally have to check you can actually afford the........

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