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S1439Referred to Committee

Federal Home Loan Banks' Mission Activities Act

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-04-10
Introduced
0
Cosponsors
S
ⓘ
Type

Sponsor

Catherine Cortez Masto
Catherine Cortez Masto
Democrat · NV · Senator
Votes with party: 57.1% (312 recorded votes)

Full profile: /officials/C001113

Source: Congress.gov · FEC

Cosponsors (0)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

2025-04-10

Source: Congress.gov

Plain-English Summary

Federal Home Loan Banks' Mission Activities Act This bill expands the Federal Home Loan Bank (FHLB) program that supports affordable housing, allows additional financial institutions to qualify for FHLB membership, and establishes compensation guidelines for FHLB executive officers. The 11 regional FHLBs serve as government-sponsored enterprises to support mortgage lending and related community investment through advances to member financial institutions. First, each FHLB must increase the annual amount contributed to the affordable housing program or other community development programs. The bill also allows small credit unions and community development financial institutions to (1) qualify for FHLB membership by meeting reduced requirements, and (2) use advances for purposes other than mortgages, such as for small business activities. Finally, the compensation for FHLB executive officers must be reasonable and comparable to compensation for similar positions at similar institutions. In determining such compensation, the FHLB must consider the level of investment in affordable housing and community programs.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector
Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

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