I am a bit weary that they will continue to be able to operate in California unless the licencing is sorted out. From reading the DBO press release and the statement of issues it appears that the way in which SZL have structured their products is considered to be a loan requiring a lending licence. I think it would be reasonable to assume that if their products require a lending licence and they do not have one then they would not be able to continue to offer those products (possibly upon the expiry of the date for appeal).
The last page of the statement of issues in the "conclusion and prayer" section seems to me to be pretty blunt in stating that SZL's current offering falls afoul of the licensing requirements.
Hopefully more information is made available to clarify the situation because this could be a great buying opportunity if it does turn out to be nothing more than a blip on the radar.
SZL Price at posting:
$1.33 Sentiment: None Disclosure: Not Held
