Tom (Panelist)

Tom, a financial commentator, and a regular panel contributor dive into the explosive rise of Buy Now, Pay Later (BNPL) spending, hitting a staggering $20 billion. They discuss how consumers, especially Gen Z, face hidden dangers with multiple BNPL accounts and rising debt. Tom highlights troubling changes in FICO reporting and the potential for late fees to rival high credit card interest. The panel also debates the impact of inflation and the need for clear disclosures, urging parents to educate their children about the risks of BNPL.