Crypto Lender BlockFi Agrees to Provide More Than $100,000 in Refunds to Californians
The DFPI today announced that New Jersey-based crypto lending platform BlockFi Lending LLC (BlockFi) agreed to direct its servicer to provide Californians more than $100,000 in refunds, subject to the bankruptcy court’s approval.
DFPI Statement: Comprehensive Review of Oversight and Regulation of Silicon Valley Bank
The DFPI is conducting a comprehensive review of the department’s oversight and regulation of Silicon Valley Bank and will issue a report by early May 2023.
DFPI Statement: First Republic Bank
The deposits made today into California-chartered First Republic Bank by 11 large banks underscores the importance of regional banks in our banking system. Regional banks provide vital banking services relied upon by communities across California.
California Financial Regulator Takes Possession of Silicon Valley Bank
The DFPI announced today that it has taken possession of Silicon Valley Bank, citing inadequate liquidity and insolvency, and has appointed the Federal Deposit Insurance Corporation (FDIC) as receiver of Silicon Valley Bank.
DFPI Statement: Silvergate Bank to Begin Voluntary Liquidation
The California Department of Financial Protection and Innovation announced today that its licensee, Silvergate Bank, has voluntarily begun the process of liquidation.
DFPI Continues Crackdown on Student Loan Debt Relief Companies
The DFPI announced today that it entered into a Consent Order with an unlicensed Orange County student debt relief company, EDU Doc Support, LLC (EDU) and its owner, Hau H. Nguyen (Nguyen).
DFPI Launches Scam Tracker to Help the Public Spot Crypto Scams
The Department of Financial Protection and Innovation (DFPI) announced today that it has launched the DFPI Crypto Scam Tracker to help Californians spot and avoid crypto scams.
DFPI Continues Crackdown on Debt Collection Scams
The DFPI announced today that it has issued enforcement actions against multiple debt collectors for unlicensed activity under the Debt Collection Licensing Act (DCLA) and unlawful and deceptive acts or practices in violation of the California Consumer Financial Protection Law (CCFPL).
California Joins $22.5 Million Multistate Securities Settlement Against Crypto Platform Nexo Capital
The DFPI announced today it has entered into a settlement agreement with Nexo Capital Inc. (Nexo) to resolve the DFPI’s September 26, 2022 securities enforcement action in connection with Nexo’s Earn Interest Product program.
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