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GreenSky

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2021

    Unusual options trading before Goldman Sachs acquisition announcement

    Reports described the purchase of an unusually large number of GreenSky call options shortly before the Goldman Sachs acquisition became public. Commentators questioned whether the activity warranted regulatory scrutiny, but the available reference material does not establish insider trading, identify a responsible party, or report a completed enforcement action.

    Source

  2. 2021

    CFPB orders GreenSky to pay a penalty and provide loan relief

    Fine or penalty

    The CFPB issued a consent order against GreenSky over allegations that it enabled merchants to obtain loans on behalf of consumers who had not requested or authorized them. The order requires a $2.5 million civil penalty and refunds or cancellations of up to $9 million in loans.

    Source excerpt

    • On July 12, 2021, the CFPB announced that it issued a consent order against GreenSky, LLC (GreenSky) for enabling contractors and other merchants to take out loans on behalf of thousands of consumers who did not request or authorize them. Per the consent order, Greensky, which is a non-bank institution located in Atlanta, GA, will be required to pay a $2.5 million civil penalty and refund or cancel up to $9 million in loans.
    Source