Crypto lender BlockFi has agreed to refund over $100,000 to California customers who continued to repay loans even after a trading halt on Nov. 10, 2022. The state's Department of Financial Protection and Innovation claimed that borrowers were not notified until Nov. 22 that they could stop repaying their BlockFi loans "until further notice." BlockFi has requested permission from the bankruptcy court to return these payments to borrowers, with a hearing scheduled for April 19. The company has also agreed to an interim suspension of its California Financing Law license while "the bankruptcy and revocation actions are pending." (Cointelegraph)
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BlockFi to Provide Over $100K in Refunds to California Clients
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