S. 1439: Federal Home Loan Banks' Mission Activities Act
A Senate bill (S.) in the 119th U.S. Congress.
Overview
| Congress | 119th U.S. Congress (2025–2026) |
|---|---|
| Type | Senate bill (S.) |
| Originating chamber | Senate |
| Introduced | 2025-04-10 |
| Sponsor | Sen. Cortez Masto, Catherine [D-NV] |
| Policy area | Finance and Financial Sector |
| Cosponsors | 0 |
| Latest action | 2025-04-10 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Last updated | 2026-03-18 |
Summary
Official summary (Introduced in Senate, 2025-04-10):
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.
Full text & official record
The official bill text, section-by-section summary, amendments, committee reports, and the complete legislative timeline for S. 1439 are published by Congress on congress.gov.
View S. 1439 on congress.gov →
Frequently asked questions
What is S. 1439?
S. 1439 is a Senate bill (S.) introduced in the 119th U.S. Congress, originating in the Senate. Official title: Federal Home Loan Banks' Mission Activities Act.
Where can I read the full bill text?
The full text, cosponsors, amendments, and legislative status for S. 1439 are available on congress.gov.
Bill data: congress.gov API (official congressional records).