Bill > S1439

This bill aims to improve the Federal Home Loan Bank (FHLB) System's ability to support housing, community development, and economic needs across various communities. The legislation expands the FHLB's capacity to support members like credit unions and community development financial institutions by clarifying and broadening their lending and grant-making capabilities. Key provisions include adding credit unions and community development financial institutions to the definition of community financial institutions, modifying the Affordable Housing Program to allow more flexible grant-making and disaster recovery support, and implementing a new executive compensation framework that ties officer pay to mission-related achievements. The bill specifically enables FHLBs to provide grants, subsidized financing, and credit enhancements, with a focus on supporting rural, urban, low-income, and Tribal communities. Additionally, the legislation requires annual reporting to Congress on the collateral pledged to Banks and establishes compensation guidelines that consider mission-related investments and performance, ensuring executive pay is reasonable and aligned with the Banks' community development goals.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/1439/all-info