Bank lending practices; consumer protection
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Virginia Code › Title 45.2 › Subtitle I › Chapter 1 › Article 3 › Section 45.2-117
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A. In determining the projects in which the Bank will participate, the Bank shall give preference to projects that (i) maximize the creation of high-quality employment and apprenticeship opportunities for local workers, consistent with the public interest, especially workers from historically economically disadvantaged communities, and Virginia communities hosting retired or retiring electric generation facilities, including workers previously employed at retiring facilities, and (ii) utilize energy technologies produced domestically that received an advanced manufacturing tax credit under § 45X of the Internal Revenue Code, as allowed under the federal Inflation Reduction Act of 2022, P.L. 117-169.
B. The Bank shall require, for all projects for which the Bank provides financing, that (i) the participants meet the Bank's underwriting criteria and (ii) any loan made to a homeowner for a project on the homeowner's residence complies with all applicable state and federal consumer lending laws.
2026, cc. 1125 , 1126 .
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