If you haven’t heard already, Klarna, the Swedish buy-now-pay-later fintech company, has been hit with a lawsuit. So, what does this mean for you and what do you need to know about this situation? In this article, you’ll find out all the important info regarding the Klarna lawsuit and the impacts it could have.
The klarna lawsuit has recently been in the public eye. The lawsuit comes from the Consumer Financial Protection Bureau, the federal agency establishes to protect consumers from predatory lenders.
Klarna has been accused of deceptive practices that exploits consumers. The complaint states that:
- Klarna offered consumers the ability to buy goods and services with monthly payments, but they failed to disclose the associated fees.
- The company did not properly disclose information about repayment periods, late fees and the total cost of the services.
- Klarna failed to ensure that consumers could actually afford the items they purchased, leading to thousands of customers defaulting on their payments.
The lawsuit is still on-going and no resolution has been reached yet. It is yet to be seen how the court will decide and what the outcome of the case will be.
That’s all the latest info on the Klarna lawsuit for now, but be sure to keep an eye out for more developments. We’ll be sure to update this article with any new information that comes to light, so be sure to check back soon.