ZIP has a credit licence in Australia and in all US states as required, to operate as a BNPL lender. In the middle of this year ZIP abruptly stopped operating in 6 US states who brought actions against it for operating without a licence. It was never announced except in the annual report, but it is likely to have been rectified now. There is some legal action pending which may result in ZIP incurring penalties and having to take remedial steps. Licencing in the US is under the remit of each state, although there are overarching principles covered by the Consumer Financial Protection Bureau (for now lol). Ultimately the states are likely to hold the power.
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