Federal Home Loan Banks' Mission Activities Act
Latest action · Apr 10, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 10, 2025
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Apr 10, 2025 |
Actions 2
Everything that happened, newest first.
- Apr 10, 2025Introduced in Senate
- Apr 10, 2025Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Printed hearings 1
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 119-8 | OVERSIGHT HEARING ON FEDERAL INDIAN TRUST ASSET MANAGEMENT: PROGRESS MADE BUT IMPROVEMENT NEEDED45 pages | Natural Resources Committee | Feb 25, 2025 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to reaffirm and improve the participation of members of the Federal Home Loan Bank System to meet the short- and long-term housing, including affordable housing, agricultural and small business lending, and community economic development financing needs of the communities they serve, including rural, urban, low-income, and Tribal communities, improve the ability of community development financial institutions and credit unions to meet community economic development financing needs for their communities, and aligning executive compensation to mission achievements, and for other purposes.
- Short Title(s) as Introduced
- Federal Home Loan Banks' Mission Activities Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Apr 10, 2025Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
