[IlPeach]

Article's a bit of a mish-mash. Mostly points finger at Afterpay and the dark patterns it used both in the marketing campaigns and in app.

Unfortunately it also misses one major point aside from the lending regulation and reporting of debt/late repay to credit scoring agencies, which is how the hell didn't these people underwrite their users properly? In the end it's the company's money that is put upfront.

[mr_toad]

They don’t bother with underwriting for these small (to them) amounts. Like a bookie they know the odds and they play the averages.

[frozenport]

Only way the loans aren't being paid are in cases of bankruptcy? They don't need to because they can always collect?