'Unregulated danger zone?' Phantom debt from fast-growing buy now, pay later usage could be worse than anyone knows
A new report attempting to dig into the burgeoning “buy now, pay later” financing market finds a lack of transparency, alongside lax oversight, could be concealing a growing consumer debt issue with negative implications for both individuals and the broader economy. Wells Fargo economists published a white paper Monday that assessed both the positive and negative attributes of buy now, pay later options for consumers and finds that based on the limited data available, the current state of the multibillion industry is “not a major problem for consumer spending yet.”...
Source: yahoo.com
