Here's Why BNPL Stocks are Falling Today
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CFPB Buy Now Pay Later Report Could Be 'Somewhat Negative' For the Industry - Credit Suisse
September 16, 2022 10:11 AM EDTOn Thursday, the Consumer Financial Protection Bureau (CFPB) issued a report regarding the Buy Now, Pay Later (BNPL) industry, saying it intends to regulate BNPL companies such as Affirm Holdings (NASDAQ: AFRM).
The CFPB said they have worries that rapidly-growing financing products are harming consumers. In the report, the agency highlighted concerns about the industry on issues such as a lack of standardized disclosure,
dispute difficulty, overextension, forced autopay, lack of reporting to credit bureaus, and data collection.
Following the news, analysts at Credit Suisse, BofA, and Morgan Stanley released... More
