FHLBReform
@FHLBReform
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The Coalition for Federal Home Loan Bank Reform
Joined October 2023
Federal Home Loan Bank's spent more on executive compensation than on housing. Shocking new analysis by @ConsumerFed @sjccorn in must read report. @FHFA @pulte this is your chance! https://t.co/fP5s5Xbd4p
consumerfed.org
The Federal Home Loan Bank (FHLB) System recently released its 2024 combined financial report. A review of 2024 data shows that this government-sponsored enterprise (GSE) has drifted from its public...
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“@SenCortezMasto has shown great leadership by pursuing reforms of the #FHLBanks for the American people." @sjccorn "Expanded #AffordableHousing programs will help build more housing and help more Americans become #homeowners."
consumerfed.org
CFA is proud to support Senator Cortez Masto’s new legislation, the Federal Home Loan Banks’ Mission Activities Act, which offers much-needed reform to the FHLBank System.
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We are thrilled by the announcement of @SenCortezMasto's new bill to reform #FHLBs! With the housing crisis, holding this #GSE accountable to its mission of supporting #AffordableHousing is more important than ever. 🏘️Read more:
americanbanker.com
A bill being introduced by Sen. Catherine Cortez Masto, D-Nev., would compel the Federal Home Loan Bank System to contribute 30%, or a minimum of $200 million, of each bank's net earnings into...
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The #FHLBanks were chartered by #Congress to help support #AffordableHousing – not to enrich their executives. Yet in 2024 alone, no less than 31 FHLBank executives earned over $1 million. Learn More in our latest #Blog by @sjccorn
https://t.co/wZXz1ervVF
consumerfed.org
In 2024 alone, no less than 31 FHLBank executives earned over $1 million, while the 11 FHLBank Presidents took home a staggering average compensation of $2.3 million each. CFA analyzed public SEC 10k...
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How many millionaires does it take to run a government-sponsored #banking system? 🏧 Apparently, at least 31: that's how many executives made >1M within the FHLB system in 2024. @pulte it's time for #FHLB reform. 👉Read more here:
americanbanker.com
A recent letter addressed to the FHFA fueled a consumer advocacy group to look at salaries, which have been criticized as not aligned to the system's purpose.
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"If FHFA and Congress seek to root out waste and inefficiencies in our housing finance system, they can start by setting reasonable limits on #FHLB executive pay and looking into consolidation options for this system" -@sjccorn
americanbanker.com
A recent letter addressed to the FHFA fueled a consumer advocacy group to look at salaries, which have been criticized as not aligned to the system's purpose.
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The Economist's recent piece on #FHLBanks takes a look at how far this GSE system has strayed from its mission:"Lending to Apollo does little to advance the FHLBs' 'mission' of supporting housing finance, nor do most of their operations." Read more:
economist.com
How a Depression-era lending scheme became a trillion-dollar wheeze
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The FHLBank system has strayed from its mission to fund affordable housing, “focusing instead on maximizing profits and dividends,” says @FHLBReform. The banks received $7.3 billion in subsidies in 2024, CBO estimates; “What does the public get in return?”
insidemortgagefinance.com
Affordable housing and community development advocates say taxpayers aren’t getting enough for the government subsidy of the FHLBanks. The FHLBanks say critics misunderstand their federal support.
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Over 60 national and local organizations signed a letter supporting Congressional action to require #FHLBs to devote at least 30% of their net income to support #affordablehousing and community development, including no less than 20% on AHP contributions. https://t.co/D3YUr7wHR0
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Over sixty national and local organizations signed on to a letter supporting Congressional action to expand #FHLBank contributions to #AffordableHousing Programs @FHLBReform
https://t.co/kuXCnza4Zw
consumerfed.org
In a letter published today, the Coalition for Federal Home Loan Bank Reform (CFR) called on Congress to require the Federal Home Loan Banks (FHLBanks) to contribute at least 30 percent of their net...
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"Millions of Americans, many of them Black, Latino and/or of younger generations, feel they may never own a home. We can no longer allow this trillion-dollar GSE to sit on its hands, while housing costs continue to rise." #FHLBankReform #AffordableHousing
shelterforce.org
In recent years, the Federal Home Loan Bank system has strayed from its original purpose—lending to support housing. We want to change that.
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FHFA issued today a proposed rule that would update FHLBank unsecured credit limits and provide more flexibility for the FHLBanks to respond to members’ short-term liquidity needs: https://t.co/wO0VbmsvPH
#Systemat100
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"As the nation seeks to accelerate the development of affordable housing solutions, clarifying the role of the #FHLBank System and strengthening its ability to provide access to stable, reliable liquidity is a critical component of this effort."
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CFR is launching a newsletter! Don't miss a monthly update on the latest news on FHLBanks and the coalition's reform efforts, sent straight to your inbox. Sign up here: https://t.co/sjLTYvBbDK
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Kamala Harris pledged to dramatically increase America's #housingsupply. Advocates hope her plan includes revamping the #FHLBs' commitment to supporting housing and community development. #HousingCrisis #GSEreform
americanbanker.com
The Federal Home Loans Bank System is under pressure to fund more affordable housing and has several proposals that may work in tandem with Vice President Kamala Harris' goal of building three...
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Our partner, @UFCW investigates how the #FHLBs, originally meant to support affordable housing, now subsidize big financial firms like Apollo, while their workers struggle with housing costs. #FHLBReform #AffordableHousingCrisis
https://t.co/2QFL2zFdoz
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Instead of doling out tens of millions to executives, the Federal Home Loan Banks should be doing what Congress created them to do: funding affordable housing.
bloomberg.com
President Joe Biden’s administration and Senate Democrats are ramping up pressure on the Federal Home Loan Bank system to pump more money into solving the nation’s housing crisis.
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CFR is proud to partner with @RuralHome on #FHLBReform! We believe #FHLBs need to step up and address the #AffordableHousingCrisis affecting communities across the country.
🏡✨ Affordable and healthy homes are the cornerstone of vibrant communities. However, rural America is facing a severe affordable housing crisis. Learn more about the challenge and solutions at https://t.co/s9cwjlFfeN
#AffordableHousing #RuralHome #HousingCrisis
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New Blog: Amid a deepening housing crisis, the #FHLBanks continue to prioritize profits over people. Let's help make this System part of the solution instead of one of the problems. #AffordableHousing @sjccorn @FHLBReform
https://t.co/gO1jFD44x4
consumerfed.org
FHLBs’ defense of their profits and their capital hoarding comes at the expense of millions of families across the country who can no longer afford their rent or fear they may never buy a home.
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Today, CFR submitted a response to the @FHFA's Request for Input on the FHLB AHP application process. The letter was drafted using input from local orgs working to improve access to affordable housing using #FHLB funding 🏘️ Read more: https://t.co/QSfrD2NtrB
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