Anna Maria Andriotis

speaker

3,396 appearances 52 recordings 1 series first heard Jul 2017 last heard Dec 2022

Anna Maria Andriotis’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Using 'Buy Now, Pay Later' Will Soon Be on Your Credit Report · 23 Dec 2021 podcast

Many of these plans aren't positioned as a form of credit or as a form of debt. matched

Some of these companies say, well, the majority of our payment plans are attached to debit cards. matched

They're not attached to credit cards. matched

Fine. matched

Yes. matched

Okay. matched

So that's not traditional credit when you have a payment plan attached to your debit card, but you do have an obligation to, you've agreed to pay a buy now, pay later company every two weeks. matched

And there are repercussions to not paying, including potentially being thrown into collections. matched

Beyond that, because these payment plans are everywhere right now with regards to just being available to so many merchants in the US, in particular online, there's a question of, okay, so these plans were created to make purchases appear more affordable. matched

But a lot of people who sign up for these plans don't only have one plan going at once. matched

You go to one merchant, you buy the clothing you want to buy, you sign up for afterpay. matched

You go to another merchant, you're buying something totally different. matched

Oh, Klarna's available. matched

You go somewhere else. matched

a firm's available, let's sign up for this and pay with a firm. matched

So all of a sudden, you've gone from, I can't pay $200 in one shot this month, I can pay $50 every two weeks, to having several of these payment plans going at once and collectively owing, let's say, that $200 that you couldn't pay in one shot, but you now owe it in the same sort of period of time to several different buy now, pay later companies. matched

So there's a few areas of concern around this issue of what kind of role are these plans playing in increasing consumers' debt. matched

Great speaking with you. matched

WSJ Your Money Briefing · Are Bank-Account Overdraft Fees on Their Way Out? · 15 Dec 2021 podcast

The way that the acting comptroller of the currency described it was that, you know, I've been telling bankers to do the right thing.

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