Hastings fights for stronger oversight of Buy-Now-Pay-Later loans to protect Illinois consumers

Hastings fights for stronger oversight of Buy-Now-Pay-Later loans to protect Illinois consumers

SPRINGFIELD — State Senator Michael E. Hastings is speaking out on the need for stronger oversight of Buy-Now-Pay-Later programs, a fast-growing form of short-term credit that allows consumers to pay for purchases in installments. “These programs may seem convenient at first, but they can carry hidden costs, unexpected fees and financial risks that often go unnoticed until it is too late,” said Hastings (D-Frankfort). “Young people, low-income f…