Finance Committee resumes BNPL credit impact debate in Dublin
The Joint Committee on Finance and the Taoiseach will resume discussions regarding Buy Now Pay Later services at Leinster House tomorrow. Representatives from Humm Group and Klarna will present evidence on consumer risks and regulatory frameworks to the committee members.
Finance Committee Resumes BNPL Debate
The Joint Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, alongside the Taoiseach, is set to reconvene tomorrow, Wednesday, 8 July, at 3:30pm. The session will take place in Committee Room 3 of Leinster House in Dublin.
The primary focus remains examining the consumer impact of Buy Now Pay Later (BNPL) companies operating within the Irish market. Following an initial examination with the Competition and Consumer Protection Commission last month, the committee will now hear directly from representatives of Humm Group UK & Ireland and Klarna Group.
Deputy Mairéad Farrell, Cathaoirleach of the Committee, highlighted the scope of the upcoming discussion. She stated that members intend to cover a wide range of critical issues, including transactional fees, penalty structures, and the significant risk of vulnerable customers falling into debt. Furthermore, the dialogue will address the broader impact on consumers and evaluate current and future regulatory measures for the sector.
The Joint Committee comprises fourteen members in total, consisting of nine deputies from the Dáil and five senators from the Seanad. The proceedings are scheduled to be broadcast live on Oireachtas TV and can also be accessed via the Houses of the Oireachtas Smartphone App, available for both Apple and Android devices.
Contact Details:
Robert Kennedy-Cochrane
Houses of the Oireachtas Communications Unit
Leinster House, Dublin 2
Tel: +353 (0)1 618 4149
Email: [email protected]