Afterpay, Zip say no regulation means they can grow
On Wednesday evening, after the release of the report, Mr Eisen told ABC News that "existing regulatory structures would not deliver fit-for-purpose regulation" and the company was glad they could continue with self-regulation under a voluntary code of conduct. Zip co-founder and chief operating officer Peter Gray said, "the committee is absolutely spot-on in its recognition that innovation is too important to be smothered with a one-size-fits-all approach to regulation".
Regulation adds fees and charges to the companies and all who use it. Responsibilities need to sometimes sit with the consumer not the provider
'because they can self-regulate'. Of course they *can*, but they won't. Yet another opportunity to get ahead of a problem thrown away.
They only make money when people default on their payment plan but im sure they will self regulate well and not prey on the weak.