Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Politics
Anusuya Lahiri

Why Are Affirm, Afterpay, PayPal Shares Trading Lower Today?

The Consumer Financial Protection Bureau on December 16 sought information from buy now, pay later (BNPL) companies regarding their compliance with federal lending laws and regulations, Bloomberg Law reports.

  • The BNPL firms include Affirm Holdings Inc (NASDAQ:AFRM), Afterpay Ltd (OTC:AFTPY), Klarna, PayPal Holdings Inc (NASDAQ:PYPL), and Zip.
  • The CFPB ordered the most prominent players in the BNPL industry for information about consumer protection concerns that have arisen about the burgeoning product.
  • The CFPB also wants the BNPL companies to disclose how consumers can accumulate debt through their apps, product design and report debts to consumer credit bureaus.
  • The information sought is similar to the ones sent to Apple Inc (NASDAQ: AAPL), Amazon.com Inc (NASDAQ: AMZN), and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google in October.
  • Price Action: AFRM shares traded lower by 11.50% at $98.22, AFTPY shares traded lower by 4.30% at $61.43, and PYPL shares traded lower by 0.6% at $189.44 on the last check Thursday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
43 Actors Who Walked Away From Fame And Never Got It Back
Fans tend to associate actors with the specific characters they play in well-known franchises. Their roles can be so legendary that they practically become those characters. And yet, some stars think that they have outgrown their roles and set out to look for greener pastures. In a discussion sparked online,…
Bored Panda
Bored Panda
Wait – Is Taylor Swift Actually Performing at the Brits This Year?
Wait – Is Taylor Swift Actually Performing at the Brits This Year?
Marie Claire
Marie Claire
Brad Pitt And Angelina Jolie’s Wine Battle Is In Year 4. Are They Close To A ‘Truce’ Yet?
The saga continues.
Cinemablend
Cinemablend
Bianca Belair And Bad Bunny Were Rumored For WrestleMania, But One Now Seems Way More Likely
There are two major updates to share on both.
Cinemablend
Cinemablend
'It has not been retitled, it's called Man of Tomorrow': James Gunn debunks wild rumor that his Superman sequel has a new title
The DC Studios co-chief has responded to a recent report that his Superman follow-up has undergone a title change.
TechRadar
TechRadar
Why You Should Stop Buying Pre-Shredded Cheese
We have all grabbed that bag of shredded cheddar for convenience on taco night. It saves us the time and effort of getting out the grater and cleaning it later. However, that convenience comes with hidden costs that affect both your wallet and your cooking. Once you switch back to…
Grocery Coupon Guide
Grocery Coupon Guide
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play