Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
In January 2024, The Rabid Capitalist warned that buy-now-pay-later purchases (“BNPL”) would grow into a formidable threat to consumer credit, especially for Gen X, Gen Z and millennial borrowers (see https://therabidcapitalist.com/2024/01/07/buy-now-default-later/). Some regulators, including the Consumer Financial Protection Bureau (“CFPB”), had expressed concern regarding the exposure of the credit markets to this form of payment. Klarna has notable exposure to these credit risks.
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