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S. 1439: Federal Home Loan Banks' Mission Activities Act

119th Congress · introduced 2025-04-10 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

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Official title

Federal Home Loan Banks' Mission Activities Act

Plain 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.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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Official text

Federal Home Loan Banks' Mission Activities Act

Source: Congressional Research Service summary (Introduced in Senate)

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Sponsor: Sen. Cortez Masto, Catherine [D-NV] · 0 cosponsors

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Sources

Record fed-us-cong119-s1439 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills