California department to reject Sezzle's application for lending license in state

(Reuters) – Buy-now-pay-later company Sezzle Inc (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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.