California Grants a Lending License to Sezzle

Sezzle is one of many lenders targeting the hot buy-now-pay-later segment; the company said today that California’s Department of Business Oversight (DBO) had approved its lending license after initially rejecting it last month for making illegal unlicensed lending in the state; Sezzle has agreed to refund $282,000 to Californian consumers and pay a $28,200 penalty; the license will allow Sezzle to structure their credit offerings directly to consumers rather than using a partner bank; shares in the Australia-listed company soared 26% of the news. Reuters

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