New Regulations for Consumer Finance

(Reuters) – The U.S. watchdog agency for consumer finance has finalized new regulations aimed at protecting home improvement borrowers who finance solar panels and other purchases through their property taxes.

This announcement from the U.S. Consumer Financial Protection Bureau (CFPB) comes amid ongoing Republican demands that the Biden administration halt new regulations ahead of President-elect Donald Trump's inauguration next month.

CFPB Director Rohit Chopra stated, "Today's rule stops unscrupulous companies and salespeople from luring homeowners into unaffordable loans based on false promises of energy savings."