{"id":2307,"date":"2024-11-07T20:00:17","date_gmt":"2024-11-07T20:00:17","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2307"},"modified":"2024-11-07T20:00:17","modified_gmt":"2024-11-07T20:00:17","slug":"blockfis-lending-license-revoked-by-california-regulator-over-violations","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2307","title":{"rendered":"BlockFi&#8217;s Lending License Revoked By California Regulator Over Violations"},"content":{"rendered":"<div>\n<p>The California Department of Financial Protection and Innovation (DFPI) has taken decisive action against <strong>BlockFi Lending LLC<\/strong> by revoking its California Financing Law license. This move comes in response to multiple violations identified by<a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/41783773\/the-future-of-crypto-regulation-under-a-trump-administration-headwinds-are-now-tailwinds\"> the regulatory body<\/a>.<\/p>\n<p><strong>What Happened<\/strong>: The regulatory agency announced its <a href=\"https:\/\/dfpi.ca.gov\/2024\/11\/07\/california-dfpi-revokes-crypto-lender-blockfis-finance-lending-license\/\">decision<\/a> on Thursday.<\/p>\n<p>The DFPI\u2019s investigation uncovered several compliance failures by BlockFi. The crypto lender did not evaluate borrowers\u2019 ability to repay loans and charged interest before loan disbursement. <\/p>\n<p>The DFPI indicated that BlockFi also failed to offer credit counseling, report payment performance to credit bureaus and accurately disclose annual percentage rates (APRs) in its loan documents.<\/p>\n<p>BlockFi, which filed for bankruptcy in 2022 following &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/41821244\/blockfis-lending-license-revoked-by-california-regulator-over-violations\" alt=\"BlockFi's\" lending license revoked by california regulator over violations>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The California Department of Financial Protection and Innovation (DFPI) has taken decisive action against BlockFi Lending LLC by revoking its California Financing Law license. This move comes in response to multiple violations identified by the regulatory body. What Happened: The regulatory agency announced its decision on Thursday. The DFPI\u2019s investigation uncovered several compliance failures by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2307","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2307"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2307\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}