The Federal Housing Finance Agency should defer to the Federal Home Loan Banks when it comes to the leadership of each bank, ICBA said.
Details: In a comment letter, ICBA cautioned the FHFA against being overly prescriptive or undermining FHLB authority to effectively populate their boards. ICBA also said that community banks should continue to have a seat at the table regarding FHLB governance.
ICBA View: ICBA has repeatedly noted that the FHLB System has worked well for over 90 years, providing community banks with liquidity to fund mortgage lending and community development projects.
Ongoing Advocacy: ICBA is working to ensure the system remains a strong, stable, and reliable source of funding based on a regional and cooperative structure that best addresses the diverse needs of its members and the local markets they serve.
