Republican PACE plan conflicts with wider anti-CFPB stance

A trio of Republican senators this month unveiled a proposal to bring Property Assessed Clean Energy (PACE) loans in line with other consumer debt products under the watch of the Consumer Financial Protection Bureau. Yet their rhetoric sends a conflicting message, in the context of the party's wider criticisms of the agency.

  • By Max Adams
  • 18 Apr 2017

Looking to take ownership of the PACE acronym, senators Tom Cotton (R-AR), Marco Rubio (R-FL) and John Boozman (R-AR) are calling their bill the Protecting Americans from Credit Exploitation Act. 

The law would essentially require PACE lenders to treat their products as consumer loans rather than tax assessments, subjecting ...

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