Energy Service Company
Ygrene Energy Fund, Inc.Find BBB Accredited Businesses in Energy Service Company.
Information and Alerts
Alert Details
This business has 1 alert.
Government Actions
CASE 2:22-cv-07864
On October 28, 2022, Ygrene Energy Fund Inc. agreed to a stipulated order (Case 2:22-cv-07864) brought against the company by the Federal Trade Commission and the State of California.
The action stems from allegations that consumers were harmed by Ygrene and by contractors Ygrene recruited and authorized to sell its PACE financing service. According to court documents, Ygrene failed to obtain consumers’ express, informed consent that the consumers’ home would be used as collateral to secure financing. It is alleged that consumers were given false information that liens placed on their home could be transferred with a property when sold or told that the lien would not interfere with the ability to refinance their home. It was also alleged that consumers weren’t given the ability to review documents that were being signed and that contractors forged the consumer’s signature by e-signing the contract without authorization.
Without any admission of wrongdoing, Ygrene has agreed to reach out to consumers with outstanding liens to establish if they personally signed the financing documents or authorized them to be signed by another party. In addition, Ygrene will dedicate $3 million to help release those liens placed deceptively, will stop deceiving consumers about the transferability of the PACE financing, will put a program in place to monitor the actions of contractors who sell their financing products and obtain consumer consent before causing a consumer’s property to be used as collateral to secure PACE financing.
Service Area
- CA
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.