Shares of Affirm (NASDAQ: AFRM) traded as much as 7% lower early in Thursday's session in the wake of an announcement from the Consumer Financial Protection Bureau (CFPB) that it plans to more intensively regulate "buy now, pay later" (BNPL) companies.

However, as of 10:45 a.m. ET, Affirm had recouped those losses and was trading roughly 2.3% higher.

The CFPB announced in a press release Thursday morning that it plans to issue new rules and guidance for BNPL companies to ensure that borrowers who use their services receive "many of the baseline protections" that credit card users do. It will also increase its oversight of the BNPL industry, and require the companies in it to undergo supervisory examinations.

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Source Fool.com