Commonwealth Bank Boss Expects Rules for Pay Later Firms

Commonwealth Bank Boss Expects Rules for Pay Later Firms
File photo: A Commonwealth Bank logo adorns an Automatic Tellar Machine (ATM) located in Sydney, Australia, in this picture taken November 12, 2014. REUTERS/David Gray/File Photo
AAP
By AAP
Updated:

Commonwealth Bank boss Matt Comyn expects scrutiny and regulatory concerns to increase for buy now, pay later providers, despite authorities declining to impose conditions on the credit providers.

Comyn on January 28 remained convinced that the likes of Afterpay and Zip, which tend to charge late payment fees rather than interest, will eventually face tighter controls.