The U.S. Court of Appeals for the Second Circuit blocked two suits October 24 aimed at protecting local clean energy loans from federal financial regulator directives. The court held that the suits are barred by a federal statute and Article III of the U.S. Constitution. The ruling is the latest in connection with Property Assessed Clean Energy programs, which are critical for local governments in financing and encouraging clean energy projects. In 2010 directives, the Federal Housing Finance Agency and the Office of the Comptroller of the Currency warned Fannie Mae, Freddie Mac, and national banks about risks that the loans with senior liens might pose their own security interests.
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