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 23, 2024 | 6:46 pm
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NEGATIVE IMPACT
Affirm's stock is trading lower following reports that the CFPB will impose credit card-like customer protections on buy now pay later companies.
The CFPB's new regulations could increase operational costs and compliance burdens for Affirm, negatively impacting its profitability and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Square's stock is trading lower due to reports that the CFPB will require buy now pay later companies to have the same customer protections as credit card users.
Square's involvement in the buy now pay later market means it will be affected by the CFPB's new regulations, potentially increasing costs and affecting profitability.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70