The decision, which is subject to a bankruptcy court’s approval, comes after a DFPI investigation found the now-bankrupt crypto lender “failed to provide timely notification” to borrowers that they could stop repaying their loans after the company had paused withdrawals on its platform. As a result, BlockFi’s California borrowers remitted at least $103,471 worth of loan repayments to the lender’s servicer.
Source: https://www.coindesk.com/policy/2023/03/27/bankrupt-crypto-lender-blockfi-to-refund-more-than-100000-to-california-clients/?utm_medium=referral&utm_source=rss&utm_campaign=headlines