California department to reject Sezzle’s application for lending license in state
(Reuters) – Buy-now-pay-later company Sezzle Inc (SZL.AX) said on Thursday a U.S. government department had announced its intention to reject the company’s application for a lending license in the state of California.
The California Department of Business Oversight (DBO), which oversees and regulates financial service providers in the state, issued a statement saying it would deny Sezzle’s application.
“We plan to continue to work with the DBO to correct any issues so that we can proceed with our plans to develop a loan product there,” the company said in a statement.
Reporting by Rashmi Ashok in Bengaluru; Editing by Shri Navaratnam