Residential Property Assessed Clean Energy Financing (Regulation Z)


Title: Residential Property Assessed Clean Energy Financing (Regulation Z)
Subject: PACE financing; Reg Z
Agency: CFPB
Proposed rule

Section 307 of the Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) directs the Consumer Financial Protection Bureau (CFPB or Bureau) to prescribe ability-to-repay rules for Property Assessed Clean Energy (PACE) financing and to apply the civil liability provisions of the Truth in Lending Act (TILA) for violations. PACE financing is financing to cover the costs of home improvements that results in a tax assessment on the real property of the consumer. In this notice of proposed rulemaking, the Bureau proposes to implement EGRRCPA section 307 and to amend Regulation Z to address how TILA applies to PACE transactions to account for the unique nature of PACE.

FR Doc: 2023-09468
Date proposed:
Comments due date: July 26, 2023
Effective date:

Rule compliance date:
Agency release:
Related Reg Report item(s):