The short answer is yes. The long answer is more complicated. GreenSky has done a lot in the last few years to earn the trust of its customers, but GreenSky has run into some trouble in the last couple years.
In 2021, the Consumer Financial Protection Bureau (CFPB) brought a suit against GreenSky for allowing contractors to take out loans for their customers without the customers authorizing them. In short, people were having loans taken out in their name by their contractors without their knowledge or consent.
CFPB believes that GreenSky was at least aware of the problem and did not take the proper actions against it. CFPB is requiring GreenSky to refund or cancel 9 million in loans, pay a $2.5 million civil penalty, and create new procedures to avoid it happening in the future.
Now, GreenSky training materials remind merchants repeatedly that they can’t request a loan without a customer’s consent. It’s obvious that GreenSky is doing its best to prevent any future problems.