Town of Babylon v. Fed. Hous. Fin. Agency Country/Territory United States of America Type of court National - higher court Date Oct 24, 2012 Source UNEP, InforMEA Court name United States Court of Appeal for the Second Circuit Judge Winter,Cabranes, Carney. Reference number Nos. 11-3408-cv, 11-3285-cv Language English Subject Energy, Environment gen., Legal questions Keyword Subsidy/incentive Energy conservation/energy production Environmental technology Abstract In 2010, the Federal Housing Finance Agency (FHFA) and Office of the Comptroller of the Currency (OCC) warned Fannie Mae, Freddie Mac and national banks that Property Assessed Clean Energy (PACE)loans to homeowners with senior liens might pose risks to the institutions own security interests. Plaintiffs sued FHFA and OCC arguing that the warning discourages local participation in PACE initiatives. A district court dismissed the suits, and plaintiffs appealed Affirming the district court, the Second Circuit ruled that a 2008 federal law, 12 U.S.C. 4617, establishes FHFA as the federal conservator for Fannie Mae and Freddie Mac, and nothing in that law authorizes judicial review of FHFA decisions. As to OCC, the court held that plaintiffs lack standing under Article III of the Constitution. According to the court, plaintiffs cannot demonstrate redressabilityin essence, that the relief sought would resolve the problembecause, even if OCC withdrew its warning, “national banks would remain entirely free to treat PACE-related properties on an unfavorable basis.” Full text COU-159836.pdf