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".
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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.
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