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How to avoid getting burned by solar or clean energy scams: https://t.co/Iw72DpDdvV
Today, the CFPB filed a proposed order to resolve its lawsuit against Credit Repair Cloud and CEO Daniel A. Rosen for providing substantial assistance or support to credit repair businesses that charge illegal advance fees to consumers. https://t.co/2tfSmqyPVr
1. As more Americans opt for solar power to lower their energy bills, we've seen a rise in fraud & predatory schemes. At a roundtable today alongside @chopracfpb and @TreasuryDepSec, I shared @FTC's work to ensure solar customers aren't getting cheated. https://t.co/kY3Z5d2QYX
The Consumer Financial Protection Bureau (CFPB) has issued a spotlight report highlighting deceptive practices by some residential solar lenders. These lenders are accused of misleading homeowners about loan terms and costs, misrepresenting energy savings, and adding hidden fees to loan balances. The CFPB, alongside the Federal Trade Commission (FTC), is scrutinizing these practices to protect consumers as more Americans install solar panels to reduce energy costs during the sweltering summer. The CFPB's actions are part of broader efforts to ensure transparency and fairness in the solar lending market.
