“Under the code you can go out and get thousands of dollars of credit without anyone properly assessing … your ability to repay it.” Although the buy now, pay later industry has created its own code of conduct, experts think it’s insufficient in protecting customers. They argue that the lax background checks for purchases less than 15,000 AUD prey on the most vulnerable, likely due to late fees making up the bulk of the industry’s profits.
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Kai Cheng’s professor had a brilliant scheme. In his first lecture, he promised that each lecture would feature a “Lie of the Day”. But why? It made his students more attentive and analytical, poring over every detail of his lecture and making sense of why things were true. It was such a powerful teaching method that his students digested his most technical lectures quite easily because they tried so hard to catch his lie. The kicker? There was no lie in that first lecture; he had lied about that too! Read full article here