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ARTICLE · 28 AUGUST 2024

CFPB Issues Report On Concerns Regarding The Solar Financing Market

Hogan Lovells Cadwalader
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In this report on the solar financing marketplace, which is characterized as an "Issue Spotlight", the CFPB identifies four areas that they view to present risks to consumers.

United StatesFinance and Banking
Mercedes Kelley Tunstall
Mercedes Kelley Tunstall
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In this report on the solar financing marketplace, which is characterized as an "Issue Spotlight", the CFPB identifies four areas that they view to present risks to consumers. In the press release accompanying the report, Director Rohit Chopra commented, "With sweltering heat across America this summer, many families are installing solar panels to save on energy costs to cool their home, the CFPB is closely scrutinizing solar lenders to make sure that Americans don't get burned."

We leave it to the reader to decide whether anyone really thinks about installing solar panels specifically to cool off their homes.

The four areas of concern identified by the CFPB are as follows, each of which should be taken into consideration by participants in this marketplace to ensure that their programs, disclosures and processes do not trip on them:

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