November 15, 2024

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California Pulls Blockfi’s Lending License, Slaps Fines After Regulatory Breach

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California Pulls Blockfi’s Lending License, Slaps Fines After Regulatory Breach
California Pulls Blockfi’s Lending License, Slaps Fines After Regulatory BreachThe California Department of Financial Protection and Innovation (DFPI) has revoked Blockfi Lending LLC’s finance lending license for violations under California’s Financing Law (CFL). Blockfi agreed to the revocation and to halt certain practices deemed harmful, following an examination that revealed the company failed to assess borrowers’ repayment ability, charged interest before disbursement, neglected to […]