Shares of buy now pay later companies are trading lower on reports indicating the CFPB will require them to have the same customer protections as credit card users.
Portfolio Pulse from Benzinga Newsdesk
Shares of buy now pay later companies are trading lower due to reports that the CFPB will require them to have the same customer protections as credit card users.
May 22, 2024 | 5:24 pm
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NEGATIVE IMPACT
Affirm's shares are trading lower as the CFPB plans to impose credit card-like customer protections on buy now pay later companies.
The CFPB's move to impose credit card-like protections is likely to increase compliance costs and regulatory scrutiny for Affirm, negatively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Block Inc.'s shares are trading lower as the CFPB plans to impose credit card-like customer protections on buy now pay later companies.
The CFPB's new regulations will likely increase operational costs and regulatory challenges for Block Inc., which could negatively affect its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80