Consumer Organizations and Attorneys Urge the Consumer Financial Protection Bureau to Issue a Final PACE Rule
The undersigned consumer organizations and attorneys write to urge the Consumer Financial Protection Bureau to issue a final PACE rule. Last year, we applauded the Bureau for proposing a strong rule that would ensure PACE borrowers receive critically important consumer protections under Regulation Z. But the proposed rule came five years after Congress amended the Truth in Lending Act (TILA) to require the Bureau to issue regulations on residential PACE (R-PACE) loans, and now almost a year has passed without a final rule. Further delay by the Bureau in finalizing the rule, combined with an...