Campaigning

GFY is on a mission to provide class financial news and education for the 99%. We also recognise that this can only go so far. We need to change things. Campaigning is at the heart of what we do.

#regulateBuyNowPayLater

TLDR: In the midst of lockdown v1, we launched a campaign calling for BuyNowPayLater products to be regulated. In January 2021 (after a close call with Klarna's friendly lawyers 🙃) the FCA publish the Woolard Review which concluded that the FCA should bring BNPL products under their remit. Win 🥳

We launched the #regulateBuyNowPayLater campaign in June of last year calling for three things:

1) For the ASA to better regulate the promotion of BNPL products

✅ In September 2020 they published their BNPL guidelines

2) For retailers to take responsibility - The social media meets BNPL sector was like wild-west back in 2019. 'No money no problems' was a highlight...

✅ Thankfully things have got better. I worked closely with ASOS to produce the campaign's best practice which they signed up to in Decemeber 2020.

ASOS commits to responsible messaging around Buy Now Pay Later products

There are growing concerns about credit payment options such as Klarna.

Metro.co.ukRebecca Hastings

3) The big one - for the FCA to regulate these products like any other form of credit.

✅ The Woolard Review concluded in favour of the campaign's objectives. This one is a work in progress but regulation is coming.