Sezzle Files OCC National Bank Charter and FDIC Insurance Applications

Sezzle filed applications with the Office of the Comptroller of the Currency for a national bank charter and with the Federal Deposit Insurance Corporation for deposit insurance. The proposed entity, Sezzle Bank, N.A., would offer FDIC-insured deposits, checking and savings accounts, and credit products. The bank would target digitally native consumers, including those new to credit.

Sezzle also plans to apply to become a bank holding company under Federal Reserve supervision. If approved, the bank would be subject to ongoing OCC supervision and examination. Existing customers face no immediate changes, and Sezzle will continue working with its current lending partners during the review process.