The Federal Trade Commission (FTC) has announced it is distributing over $2.9 million to consumers affected by Ygrene Energy Fund, a home-improvement financing firm accused of making false claims regarding the financial implications of its services.
The FTC's complaint from October 2022 highlighted that Ygrene and its network of door-to-door contractors misled homeowners by claiming their financing program would not affect the sale or refinancing of homes. It also alleged that high-pressure sales tactics and, in some instances, forgery were used to enroll consumers, leading to liens being placed without informed consent.
As part of a settlement agreement, Ygrene agreed to cease these deceptive practices, monitor its contractors more closely, and pay $3 million for consumer relief related to existing liens on properties. The settlement does not remove these liens; they remain until paid off.
The FTC is sending payments via checks and PayPal to 960 affected consumers. Recipients are advised to cash checks within 90 days and redeem PayPal payments within 30 days.
For questions about the payments, consumers can contact Analytics Consulting LLC at 877-412-1816 or visit the FTC website for more information. The FTC emphasizes it never requires payment or account details for refunds.
Interactive dashboards on refund data provide detailed state-by-state breakdowns of refunds in FTC cases. In 2024 alone, the agency facilitated over $339 million in consumer refunds nationwide.
The FTC continues its mission to promote competition while protecting and educating consumers against fraud and unfair business practices. More information can be found online at ReportFraud.ftc.gov, where individuals can report scams and access consumer resources.
