January 1, 2020 / 11:41 PM / 25 days ago

California dept to reject Sezzle's application for lending licence in state

Jan 2 (Reuters) - Buy-now-pay-later company Sezzle Inc said on Thursday a U.S. government department had announced its intention to reject the company’s application for a lending licence 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)

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