Bill · S. 1439· Senate(119-S-1439)
Federal Home Loan Banks' Mission Activities Act
- Introduced
- 4/10/2025
- Last activity
- 4/10/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Catherine Cortez Masto
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
The Federal Home Loan Banks' Mission Activities Act seeks to improve how the Federal Home Loan Bank System supports community needs. It aims to expand financing for housing, agriculture, small businesses, and community economic development. The bill expands the definition of community financial institutions to include credit unions and certain community development financial institutions. It also establishes an affordable housing program that includes the ability to provide grants. Additionally, the Act seeks to align executive compensation with mission achievements. Finally, it requires annual reporting to Congress regarding pledged collateral.
Yes· 3 of 17
Does this make housing cost less?+7
The bill establishes an affordable housing program with grants and subsidized financing.
Would households on low incomes be better off under this?+6
The bill provides new avenues for affordable housing and financial assistance for low-income households.
Does this make it easier to run a small business?+6
The bill explicitly aims to expand the ability of Banks to support small business lending.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Support for Diverse Communities: The bill aims to meet the financing needs of rural, urban, low-income, and Tribal communities (Section 2).
-
Expanded Financial Access: By expanding the ability of Banks to support housing, small business, agricultural, and economic development, more members can access necessary funding (Section s 2(1) and 2(2)).
-
Increased Affordable Housing Options: The establishment of an affordable housing program allows Banks to finance long-term, low- or moderate-income, owner-occupied and affordable rental housing through subsidized interest rates or grants (Section 4).
-
Disaster Recovery Support: In the event of a declared disaster, the Director can allow vacant rental units in the affordable housing program to be leased to displaced households regardless of income, and can suspend other requirements to facilitate recovery (Section 4).
-
Broader Financial Institution Membership: The bill includes credit unions and certified community development financial institutions as community financial institutions, which expands the scope of supported members (Section 3).
Potential Negative Impacts for People
- No specific negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Low Income Households+6Good For Business Owners+5Good For Farmers+5Good For Native Americans+5Good For Rural Residents+5Good For Urban Residents+5Good For Middle Class Households+3
- Social Issues And Justice
- Improves Affordable Housing+7Reduces Homelessness+4Improves Poverty Reduction+3
- Economy And Finance
- Improves Small Business Support+6Improves Economic Growth+3Increases Job Creation+2
- Environment Energy And Infrastructure
- Improves Disaster Relief And F E M A+5Improves Rural Development+5
- Governance And Ideology
- Improves Government Transparency+4Increases Federal Power+2
- 4/10/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Introduced in Senate