Clouds on the Horizon? CFPB, FTC, and State AG's Signal Increased Focus on Solar Lending Practices

In August, the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) issued a joint bulletin in which they signaled their increased focus on solar lending practices in the residential rooftop solar marketplace. The CFPB identified several areas of interest, including the imposition of dealer or platform fees, the manner in which those fees are disclosed to consumers, and the manner in which potential tax credits are described to consumers at the time of contracting. The CFPB appears poised to bring enforcement proceedings against covered lenders and related persons under the Truth in Lending Act and under its authority to seek redress for actions that the CFPB perceives to be unfair, deceptive, or abusive. Several state attorneys general and private plaintiffs have also filed litigation against solar lenders and other actors in the residential rooftop solar space.

This webinar provided an overview of the relevant legal issues and a summary of the status of pending actions.