Who are the real predators?

Who are the real predators when it comes to PACE? Tom Cotton, Marco Rubio, John Boozman, Brad Sherman and Ed Royce have filed bills to kill off residential Property Assessed Clean Energy financing. Cotton and Boozman are from Arkansas, which doesn't even do residential PACE.

What's behind the legislative attack? Who could benefit from the demise of PACE?

Connect the dots to find the real predators...

TOM COTTON

Cotton: "Residential PACE Loans Are A Scam." "'Residential PACE loans are a scam. Predatory green-energy lenders are changing state and local laws to trick seniors into taking out high-interest rate loans for 20 years, along with liens on their homes, for technology that could be obsolete in a few years. Today, these loans are exempt from the same disclosure forms required for other home loans. Our bill will fix this. Requiring disclosure will reduce the advantage that PACE loan sharks have over hard-working Americans. It's just the accountability we need,' said Cotton." [Press release, 4/5/17]

Cotton Has Accepted Over $490,000 From Real Estate Industry, $399,000 From Commercial Banks. According to the Center for Responsive Politics, over the course of his career Cotton has received at least $490,430 in campaign contributions from the real estate industry and $399,385 from the commercial banking industry. [OpenSecrets.org]

Banks Are Among Cotton's Largest Donors. According to the Center for Responsive Politics, PACs and individual donors associated with Wells Fargo have given Cotton at least $35,772 over the course of his career, making the company his 13th biggest overall contributor. Arvest Bank Group is his 15th biggest contributor, having given at least $33,400. [OpenSecrets.org]

Cotton Was 2nd Highest Recipient Of Commercial Bank Contributions In 2014 Senate Races, Behind Only Mitch McConnell. According to the Center for Responsive Politics, commercial banks gave $302,735 to Cotton during the 2014 Senate campaign cycle, second only to the $327,239 they gave Mitch McConnell. [OpenSecrets.org]

Cotton Was 9th Highest Recipient Of Mortgage Banker Contributions In 2014. According to the Center for Responsive Politics, mortgage bankers and brokers gave $25,400 to Cotton during the 2014 campaign cycle, making him the 9th highest recipient among Senate candidates. [OpenSecrets.org]

"'National Or International Finance Firms' Heavily Bankrolled Cotton's 2014 Senate Campaign." "The Democrat-Gazette's review of federal campaign data identified at least 18 groups - families, employees and political action committees connected to related companies - that already have given at least $25,000 to Cotton, Pryor or both.
Nine of those groups gave to Cotton. They include three national or international finance firms. Wall Street investment bank Goldman Sachs Group and billionaire Paul Singer's Elliott Management Corp. hedge fund, both in New York, gave more than $40,000 each to Cotton through employees and PACs. Contributors connected with Citadel Investment Group of Chicago, a financial company and hedge fund, donated more than $30,000." [Arkansas Democrat-Gazette, 9/28/14]

2015: Cotton Sponsored Legislation Allowing Banks To Offer Cash Prizes To Lure New Customers. "Banks have given away gift cards, frequent flier miles and even toasters to lure customers. Now, with the passage of legislation sponsored by Arkansas U.S. Rep. Tom Cotton, banks can also give away big cash prizes if state law allows it. But the election loss of the state lawmaker who tried to create the cash program for credit unions in Arkansas means some in the banking industry are looking for another legislator to carry the mantle. President Barack Obama signed The American Savings Promotion Act into law before Christmas. It removed federal regulations that kept banks and some other financial institutions from offering prize-linked savings accounts, in which people are entered into a lottery drawing for cash prizes based on how much money they place in a savings account, certificate of deposit or savings bond. 'Federal law here was holding our small hometown banks back from offering a very innovative product that's been helpful in American credit unions and overseas in countries that allow it,' said Cotton, a Republican from Dardanelle. 'A lot of small town banks ... are going to be happy with the legislation.'" [Arkansas Democrat-Gazette, 12/28/14]

Cotton Supported "Ending The Federal-Government Monopoly On The Student-Lending Business" And Having "Hometown Banks Work With Students And Families To Finance Higher Education." "In July last year, Cotton also voted against the Bipartisan Student Loan Certainty Act of 2013, a measure that reversed a doubling of student loan interest rates and changed the rate-setting system from one legislated by Congress to one tied to the market and capped. He was one of only six Republican House members to vote against the bill, which passed the House on a 392-31 vote and the Senate on an 81-18 vote... At the time of the vote on interest rates, Cotton said he favored 'ending the federal-government monopoly on the student-lending business' and having 'hometown banks work with students and families to finance higher education.'" [FactCheck.org, 10/20/14]

Cotton's Consulting Career Included Work For The Federal Housing Authority, "To Improve Its Service In Providing Insurance To Lenders." According to the Washington Post, during his time with McKinsey, Cotton was assigned to a project for "the Federal Housing Authority, in the office of multifamily housing programs, to improve its service in providing insurance to lenders who finance apartment buildings." [Washington Post, 4/1/14]

MARCO RUBIO

Rubio: "PACE Loans Should Have To Play By The Same Rules... Americans Deserve Clear, Straightforward Policies From Their Government, Not Hidden Political Favors." "'Residential PACE loans should have to play by the same rules as other forms of home financing. Americans deserve clear, straightforward policies from their government, not hidden political favors. Our legislation would address this and help provide the transparency necessary to create real consumer choice,' said Rubio." [Press release, 4/5/17]

Rubio Has Accepted At Least $3,658,599 From Real Estate Interests. According to the Center for Responsive Politics, over the course of his career Rubio has received at least $3,658,599 in campaign contributions from the real estate industry. [OpenSecrets.org]

Banks Are Among Rubio's Largest Donors. According to the Center for Responsive Politics, PACs and individual donors associated with Bank of America have given Rubio at least $92,219 over the course of his career, making the company his 9th biggest contributor. Wells Fargo has given $71,310. [OpenSecrets.org]

Commercial Banks Have Given Rubio $519,909. According to the Center for Responsive Politics, commercial banks have given Rubio at least $519,909 during his campaigns. [OpenSecrets.org]

Mortgage Bankers And Brokers Have Given Rubio $166,823. According to the Center for Responsive Politics, mortgage bankers and brokers have given Rubio at least $166,823 during his campaigns, the 8th highest of all Senate candidates. [OpenSecrets.org]

JOHN BOOZMAN

Boozman: "I'm Proud To Support This Legislation To Prevent Borrowers From Being Taken Advantage Of." "'We must provide homeowners with the information they need to protect themselves so they don't risk financial ruin because of their participation in the PACE loan program. I'm proud to support this legislation to prevent borrowers from being taken advantage of,' Boozman said." [Press release, 4/5/17]

Boozman Has Accepted At Least $323,633 From Real Estate Industry. According to the Center for Responsive Politics, over the course of his career Boozman has received at least $323,633 in campaign contributions from the real estate industry. [OpenSecrets.org]

Banks, Realtors Among Boozmanís Largest Donors. According to the Center for Responsive Politics, PACs and individual donors associated with the Arvest Bank Group have given Boozman at least $97,023 over the course of his career, making the company his third biggest overall contributor. The National Association of Realtors has given Boozman at least $40,000; the American Bankers Association has given $28,000. [OpenSecrets.org]

Commercial Banks Have Given Boozman $367,778. According to the Center for Responsive Politics, commercial banks have given Boozman at least $367,778 during his campaigns. [OpenSecrets.org]

Mortgage Bankers And Brokers Have Given Boozman $13,250. According to the Center for Responsive Politics, mortgage bankers and brokers have given Boozman at least $13,250 during his campaigns. [OpenSecrets.org]

BRAD SHERMAN

Sherman: "Current Process Presents Homeowners With Many Challenges." "'PACE programs provide an important source of financing for consumers looking to make energy-efficient changes to their homes.  But the current process presents homeowners with many challenges and can result in homeowners being misled about the terms of their loan,' said Congressman Sherman. 'We must ensure that homeowners concerned with promoting energy efficiency, conservation, and a cleaner environment are given the tools to be successful.'" [Press release, 4/5/17]

Real Estate Industry Is Sherman's Largest Donor, Has Given Over $1 Million In Contributions. According to the Center for Responsive Politics, over the course of his career Sherman has received at least $1,069,903 in campaign contributions from the real estate industry, more than any other industry. [OpenSecrets.org]

Sherman Has Received At Least $228,200 From Commercial Banks. According to the Center for Responsive Politics, Sherman has received at least $228,200 from the commercial banking industry over the course of his career. [OpenSecrets.org]

National Association Of Realtors Is Sherman's 5th Biggest Contributor, Has Given Over $100,000. According to the Center for Responsive Politics, Sherman has received at least $102,539 from individuals or PACs associated with the National Association of Realtors over the course of his career, making the group his 5th biggest donor overall. [OpenSecrets.org]

Sherman Is House's 6th Biggest Recipient Of Mortgage Banker Contributions, Has Accepted Over $225,000. According to the Center for Responsive Politics, mortgage bankers and brokers have given Sherman at least $225,265, the 6th highest amount of all House members. [OpenSecrets.org]

ED ROYCE

Royce Has Accepted Nearly $1.5 Million From Real Estate Industry. According to the Center for Responsive Politics, over the course of his career Royce has received at least $1,494,436 from the real estate industry, second only to the insurance industry among his top donors. [OpenSecrets.org]

Royce Has Accepted Over $570,000 From Commercial Banks. According to the Center for Responsive Politics, over the course of his career Royce has received at least $570,144 from commercial banks. [OpenSecrets.org]

Royce Is House's 4th Biggest Recipient Of Mortgage Banker Contributions, Has Accepted Over $250,000. According to the Center for Responsive Politics, mortgage bankers and brokers have given Royce at least $257,646, the 4th highest amount of all House members. [OpenSecrets.org]

Banks, Realtors Among Royce's Largest Donors. According to the Center for Responsive Politics, PACs and individuals associated with Bank of America have given Royce at least $95,351 over the course of his career, making the company his 4th biggest overall contributor. Wells Fargo is next with $85,300, the National Association of Realtors has given him $82,350, and JPMorgan Chase has given him $80,670. [OpenSecrets.org]