Klarna

Ticker KLAR. Buy now, pay later provider and digital bank.

11 items in 5 issues, Oct 24, 2026 to Nov 8, 2026, newest first. Each item links to the issue it ran in, where its sources are listed.

November 2026

Sun, Nov 8 · The week ahead
Earnings. Nu Holdings is expected to report Thursday, and Klarna's third-quarter results follow on Nov. 17.
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Sun, Nov 8 · The long read: The charter rush, as Democrats take the Senate
The pay-later race. All three large U.S. pay-later lenders now have bank applications pending. Affirm filed in January for Affirm Bank, a Nevada industrial loan company, and Klarna applied in July for a Utah bank charter. Sezzle applied to the OCC on Oct. 22 for a national bank, a review that CEO Charlie Youakim expects to take 12 to 18 months.
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Sun, Nov 8 · The long read: The charter rush, as Democrats take the Senate
What to watch. The OCC's approvals do not need the Senate, but deposit insurance from the FDIC is the gating step for de novo banks and ILCs, and FDIC board seats need confirmation. The decisions to watch are the FDIC's rulings on Affirm's ILC and Klarna's Utah bank, Sezzle's OCC review and whether OppFi refiles or ends its BNC agreement.
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Sun, Nov 1 · The week ahead
Affirm. Reports Thu Nov 5, its first results since losing Walmart to Klarna and adding Sam's Club.
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October 2026

Tue, Oct 27 · BNPL & lending
Klarna. Monness, Crespi, Hardt started coverage at Buy, with a $20 target (stock ~$12.81) on Oct 26. The firm sees margin conversion rising from ~18% in FY26 to 31% in FY28, and FY27/28 adjusted operating income 6-8.5% above consensus. It calls KLAR cheap at a PEG of 0.14 vs Affirm's 0.52.
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Mon, Oct 26 · The big story: EU credit rules for Klarna & PayPal (CCD2)
The loopholes close. Under the old directive, credit under EUR 200 and interest-free credit repaid within three months were exempt, which is how most BNPL operated outside credit law. Both exemptions are gone. What remains is narrow: a merchant's own interest-free deferral, paid within 50 days (14 days for large sellers). Briqpay's analysis says that generally falls away once a third party such as Klarna or PayPal provides the credit or buys the receivable.
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Mon, Oct 26 · The big story: EU credit rules for Klarna & PayPal (CCD2)
Germany is ground zero. Germany passed its implementing law (Bundestag in April; Bundesrat approved), and BNPL providers come under BaFin supervision. It's Europe's largest BNPL market, an estimated ~USD 83B in 2026 (vendor estimate). Klarna has used SCHUFA data since 2023, and its pay-in-installments products can now show up as inquiries or contracts on consumer files. As of September it was unclear whether PayPal would report Pay Later installments to SCHUFA.
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Mon, Oct 26 · The big story: EU credit rules for Klarna & PayPal (CCD2)
Pay in 30 days: the grey zone. German consumer guides say fee-free invoice purchases paid within 50 days stay exempt, while legal analyses say the exemption covers only a merchant's own credit. How regulators treat Klarna and PayPal 'pay in 30 days' invoices is the key open question for volumes. Watch for BaFin guidance.
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Mon, Oct 26 · The big story: EU credit rules for Klarna & PayPal (CCD2)
How providers are preparing. Klarna has been reissuing consumer credit agreements ahead of the deadline, including for recurring and subscription charges. Expect more declines at the margin, more bank-account and open-banking data in underwriting, and pressure on approval rates, conversion and holiday-season volumes. That lands just as Black Friday falls a week after go-live.
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Mon, Oct 26 · The big story: EU credit rules for Klarna & PayPal (CCD2)
The US angle. Europe is the template. CCD2 is where US state BNPL laws (New York's licensing regime, plus bills elsewhere) are heading: ability-to-repay checks, disclosures and supervision. Klarna (KLAR) and PayPal (PYPL) are the two listed names most exposed.
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Sat, Oct 24 · BNPL & lending
Klarna + FreshBooks (Oct 21). Klarna is now embedded in FreshBooks invoicing. Small businesses can offer pay in full, pay-in-4 or financing, with no setup.
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