is directed to serve climate-impacted communities. (c) Consumer protection (1) Prioritization Consistent with mandate under section 1623 to maximize the reduction of emissions in the United States for every dollar deployed by the Bank, the Bank shall prioritize qualified projects according to benefits conferred on consumers and affected communities. (2) Consumer credit protection The Bank shall ensure that any residential energy efficiency or distributed clean energy project in which the Bank invests directly or indirectly complies with the requirements of the Consumer Credit Protection Act ( 15 U.S.C. 1601 et seq.), including, in the case of a financial product that is a residential mortgage loan, any requirements of title I of that Act relating to residential mortgage loans (including any regulations promulgated by the Bureau of Consumer Financial Protection under section 129C(b)(3)(C) of that Act ( 15 U.S.C. 1639c(b)(3)(C) )). (d) Labor (1) In general The Bank shall ensure that laborers and mechanics employed by contractors and subcontractors in construction work financed directly by the Bank will be paid wages not less than those prevailing on similar construction in the locality, as determined by the Secretary of Labor under sections 3141 through 3144, 3146, and 3147 of title 40, United States Code. (2) Project labor agreement The Bank shall ensure that projects financed directly by the Bank with total capital costs of $100,000,000 or greater utilize a project labor agreement. 1628. Board of Directors (a) In general The Bank shall operate under the direction of a Board of Directors, which shall be composed of 7 members. (b) Initial composition and terms (1) Selection The initial members of the Board shall be selected as follows: (A) Appointed members Three members shall be appointed by the President, with the advice and consent of the Senate, of whom no more than two shall belong to the same political party. (B) Elected members Four members shall be elected unanimously by the 3 members appointed and