NAFCU breaks down CFPB’s announcement on PACE loans

NAFCU sent members a Regulatory Alert Thursday highlighting the CFPB’s notice of proposed rulemaking seeking to prescribe ability-to-repay rules for Property Assessed Clean Energy (PACE) financing. While credit unions do not offer residential PACE financing, they are negatively impacted when PACE-financed improvements impose a superior lien on a property with a preexisting mortgage. The potential implications of regulating PACE financing under the Truth in Lending Act (TILA) could include greater consumer protections and increased transparency in affordability.

5 things to know this week

NAFCU's widely read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources.

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