ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Mortgage

ABA, Trades Support Bills Targeting PACE Loans

April 24, 2017
Reading Time: 1 min read

In a joint letter with more than two dozen financial and housing trade associations today, ABA expressed support for legislation to require more consumer disclosures for Property Assessed Clean Energy loans, a controversial financial product that allows homeowners to pay for energy-efficient retrofitting — such as solar panels and high-efficiency air conditioners — through their property tax assessments.

More than 30 states currently allow PACE loans, which may take first-lien position over the primary mortgage on a residence but are not currently subject to federal consumer protection requirements. The bills — S. 838 and H.R. 1958 — would subject PACE loan originators and sales personnel to Truth in Lending Act requirements, enhancing pre-origination disclosures of total loan amounts and loan terms and bringing the loans explicitly under the oversight of the Consumer Financial Protection Bureau.

“PACE loans are — in substance — consumer loans secured by real property and should be subject to federal consumer protection requirements, not dependent on a patchwork of limited or non-existent state/municipal laws that do not adequately protect homeowners,” the trades said.

ADVERTISEMENT
Tags: PACE loans
ShareTweetPin

Author

Monica C. Meinert

Monica C. Meinert

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for executive communications at the American Bankers Association.

Related Posts

Senate Democrats seek proposals for regulatory changes following recent bank closures

Senate votes to advance stablecoin bill

Newsbytes
May 19, 2025

A bill to create a regulatory framework for payment stablecoins cleared a key procedural hurdle after several Democrats joined Republicans in voting to advance the legislation.

ABA, BPI seek transparency around Fed stress tests

ABA, associations urge flexibility in large bank stress test changes

Compliance and Risk
May 19, 2025

ABA joined three financial sector associations in urging the Federal Reserve for a more flexible compliance deadline for proposed changes in the stress capital buffer requirement for large banks.

Banking sector, regulators announce joint effort to address AI risks

FS-ISAC releases annual report on financial sector cyber threats

Cybersecurity
May 19, 2025

The financial sector is scrambling to keep up with the heightened risks posed by cyber threats through increasing investment in fraud prevention and strengthening third-party risk management, according to a new report by FS-ISAC.

FDIC: Number of unbanked households drops to new low

Kansas City Fed economist: Bank On may have reduced unbanked rates

Community Banking
May 19, 2025

An increase in the number of financial institutions offering Bank On-certified accounts may have contributed to the decline in unbanked households by lowering barriers to account ownership, according to new research.

ABA DataBank: Higher costs, less credit

ABA DataBank: Higher costs, less credit

Economy
May 16, 2025

Despite temporary tariff relief, small businesses still face elevated costs from historically high tariffs on Chinese goods.

CFPB proposes to regulate large nonbanks in personal loan market

Survey: Customer satisfaction with personal loans holds steady

Mortgage
May 16, 2025

Overall customer satisfaction with personal loans has remained largely flat, according to J.D. Power’s 2025 U.S. Consumer Lending Satisfaction Study.

NEWSBYTES

Senate votes to advance stablecoin bill

May 19, 2025

ABA, associations urge flexibility in large bank stress test changes

May 19, 2025

FS-ISAC releases annual report on financial sector cyber threats

May 19, 2025

SPONSORED CONTENT

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025
AI for Banks: A Starter Guide for Community and Regional Institutions

AI for Banks: A Starter Guide for Community and Regional Institutions

March 1, 2025

PODCASTS

Podcast: Accelerating banking for quick-service restaurants

May 8, 2025

How a Georgia community bank supports government-guaranteed lending nationwide

May 1, 2025

Podcast: Quantum computing’s shakeup in payments, cybersecurity

April 24, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.