Consumer Financial Protection Bureau, August 7, 2024, CFPB Report Finds Lenders Cramming Markup Fees And Confusing Terms Into Solar Energy Loans
In conjunction with today’s report, the CFPB released a consumer advisory warning homeowners of the risky practices in the solar lending market and sharing advice for borrowers who encounter illegal activity. The U.S. Department of the Treasury also published information to help consumers as they shop for solar power. The agencies will work together, along with the Federal Trade Commission and other government partners, to crack down on abuses in this important market.
Today’s effort complements other work by the CFPB to protect families when it comes to clean energy financing. Last year, the CFPB proposed rules to rein in abuses on Property Assessed Clean Energy (PACE) loans. The CFPB is currently working on finalizing these rules.
Consumers can submit complaints about financial products or services by visiting the CFPB’s website or by calling (855) 411-CFPB (2372).
