Rep. Ed Perlmutter of Colorado inserted a provision into the recently passed House climate change bill that would drum up business for “green” banks, such as the one he has invested in and his family and a political donor helped found in San Francisco.
The bill calls on bank regulators to promote green banking and says federal dollars should be used to support energy-efficient home improvements at government-funded housing projects.
Mr. Perlmutter, a two-term Democrat, has two investments in the 3-year-old New Resource Bank, which calls itself the nation’s first green bank. Among other environmentally conscious banking products, the bank offers home equity loans for consumers to make their homes more energy efficient, in addition to construction loans for green builders.
A Perlmutter spokeswoman stressed that the bill provisions benefit any bank that offers qualifying products.
“Any bank can use this or take advantage of this, period. So it’s equal opportunity,” Leslie Oliver said.
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