CFPB opens probe into red hot 'buy now, pay later' industry
CNN
Regulators in Washington may crack down on the industry behind "buy now, pay later," the increasingly popular method for consumers to purchase things online.
The Consumer Financial Protection said Thursday that it is looking to "collect information on the risks and benefits of these fast-growing loans" from five leading BNPL companies: Affirm; Australia's Afterpay, which is getting bought by Square owner Block; PayPal; privately held Swedish fintech Klarna; and Zip, another BNPL firm headquartered in Australia.
Shares of Affirm, which went public in January, plunged more than 10% following the CFPB news. Block (SQ) shares fell about 5%, but that drop may also have something to do with a lawsuit filed against it by tax preparer H&R Block (HRB). PayPal (PYPL) was down slightly.
Bill and Hillary Clinton refused to appear on Capitol Hill Tuesday to testify in Congress’ Jeffrey Epstein probe in the face of threats from the House Oversight Committee to hold them in contempt.
Former teacher Arnulfo Reyes was questioned repeatedly in court Tuesday about how doors were left open at Robb Elementary School in Uvalde, Texas, before a gunman entered in May 2022 and killed 21 children and teachers.
The Trump administration does not know the whereabouts of 137 Venezuelans it unlawfully deported last year, Secretary of State Marco Rubio said, adding that attempting to offer them due process would impact US foreign policy interests in the country.
Around 1,000 additional US Customs and Border Protection agents are expected to deploy to Minneapolis, Minnesota, according to two federal law enforcement sources. Follow for live updates.
President Donald Trump’s efforts to leverage the Justice Department for political purposes and to exact retribution against his perceived foes haven’t suffered from a series of setbacks.
Minnesota and Illinois separately filed lawsuits Monday against the Trump administration, arguing the president’s immigration crackdown is terrorizing their communities and violating the Constitution.
Former Navy sailor sentenced to 16 years for selling information about ships to Chinese intelligence
A former US Navy sailor convicted of selling technical and operating manuals for ships and operating systems to an intelligence officer working for China was sentenced Monday to more than 16 years in prison, prosecutors said.
The Defense Department has spent more than a year testing a device purchased in an undercover operation that some investigators think could be the cause of a series of mysterious ailments impacting spies, diplomats and troops that are colloquially known as Havana Syndrome, according to four sources briefed on the matter.
Jack Smith, the former special counsel who led two failed prosecutions of President Donald Trump, will testify publicly before the House Judiciary Committee on January 22, the panel announced Monday.
Treasury Secretary Scott Bessent has told people that he is unhappy with the decision to criminally investigate Fed Chair Jerome Powell, a source with knowledge of the matter told CNN.
Venezuela’s promise last week to release “a significant number” of political prisoners is progressing far slower than many had hoped, as hundreds of families continue to wait in agony for their loved ones to be freed.
President Donald Trump billed strikes on Venezuela earlier this month as being about drugs, gangs invading the United States and law enforcement – i.e. arresting indicted leader Nicolás Maduro. But of late, he seems conspicuously preoccupied with the country’s oil wealth.
FORT LAUDERDALE, Fla. (AP) — Florida Lt. Gov. Jay Collins announced Monday that he’s running for governor in 2026, hoping to take over for term-limited Gov. Ron DeSantis.