The Klarna Card is issued by WebBank, a Utah-chartered industrial bank, under a license from Visa U.S.A. Inc.; Klarna operates as the program manager rather than the card issuer.
This analysis describes what Klarna's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes the legal structure under which the Klarna Card is offered, with WebBank as the creditor of record, which determines the applicable regulatory framework including federal preemption of state usury laws and FDIC oversight.
Under this structure, the Klarna Card is a bank-issued credit product with WebBank as the legal issuer; cardholders' credit agreements are with WebBank, and disputes about credit card terms are subject to the regulatory framework applicable to WebBank-issued cards.
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"The Klarna Card is issued by WebBank pursuant to a license from Visa U.S.A. Inc.— Excerpt from Klarna's Klarna Terms of Service
1. REGULATORY LANDSCAPE: WebBank is an FDIC-insured Utah industrial bank, subject to FDIC examination and Utah state banking regulation. The bank-fintech partnership structure engages FDIC guidance on third-party lending arrangements (FIL-50-2016 and subsequent guidance). TILA and Regulation Z apply to the card program, enforced by the CFPB for consumer protection purposes. 2. GOVERNANCE EXPOSURE: Medium. The bank-fintech partnership model means that Klarna's operational role as program manager creates shared compliance obligations with WebBank. Regulatory scrutiny of rent-a-bank arrangements has increased; compliance teams should monitor FDIC and CFPB guidance developments in this area. 3. JURISDICTION FLAGS: Federal preemption under the Depository Institutions Deregulation and Monetary Control Act generally allows WebBank as a federally insured depository to export interest rates across state lines, which may limit the applicability of state-level usury caps. However, ongoing regulatory and litigation activity in this area means the preemption analysis is not fully settled in all jurisdictions. 4. CONTRACT AND VENDOR IMPLICATIONS: The program management agreement between Klarna and WebBank governs the allocation of compliance, operational, and financial obligations between the parties. Compliance teams in B2B contexts should confirm that Klarna's program manager obligations are clearly defined and that WebBank oversight of the program is documented. 5. COMPLIANCE CONSIDERATIONS: Monitor FDIC and CFPB guidance on bank-fintech partnership arrangements, confirm that all required Klarna Card disclosures identify WebBank as the issuer, and assess whether the program structure requires any state-level licensing or registration for Klarna as the program manager.
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This provision establishes the legal structure under which the Klarna Card is offered, with WebBank as the creditor of record, which determines the applicable regulatory framework including federal preemption of state usury laws and FDIC oversight.
Under this structure, the Klarna Card is a bank-issued credit product with WebBank as the legal issuer; cardholders' credit agreements are with WebBank, and disputes about credit card terms are subject to the regulatory framework applicable to WebBank-issued cards.
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