Today’s article in the Los Angeles Times regarding two bills heading to Governor Jerry Brown’s desk that would help boost consumer protections around PACE home loans shines an important light on the need to address some serious problems in the PACE programs. Bet Tzedek is pleased that the California Legislature has recognized that PACE financing and practices are harming consumers, and that they have taken some initial steps to address those harms. However, the bills still fail to address serious problems in the PACE programs.
Bet Tzedek will continue its work to protect low-income Californians and urges local and state policymakers to do more to protect Californians—the work is far from over.