Singapore has relatively recently instigated two pieces of regulation related to consumer credit - the Buy Now, Pay-Later Code of Conduct, and the Debt Collection Act 2022. This presentation discusses the background of these pieces of regulation, considers their similarities and differences, and analyses the benefits and drawbacks of the two approaches. It will also highlight how they have both been implemented and the legal issues and developments that have occurred since they were passed.
It concludes by highlighting that, whilst both the Code of Conduct and the Debt Collection Act are well-meaning and have the ability to improve the lives of vulnerable consumers, further work is necessary for the full potential of both regulatory instruments to be realised.
Jodi Gardner is a full professor at the University of Auckland, and is the inaugural Brian Coote Chair in Private Law. She has previously lectured at the universities of Oxford and Cambridge. Jodi's research focuses on the intersection of private law and social policy. She is interested in topics such as fair and transparent lending, consumer credit and and social welfare.
