Coalition for Federal Home Loan Bank Reform (CFR) Created to Promote Equitable Reform

NEWS RELEASE

Contact: Amanda Jacobson Snyder
contact@fhlbreform.org

FOR IMMEDIATE RELEASE
September 7, 2023

Today a non-partisan group of respected policy experts announced the formation of the Coalition for Federal Home Loan Bank Reform (CFR).

The FHLBank system, created by Congress in 1932, is a $1.6 trillion privately owned, tax-exempt, government sponsored enterprise. Established to serve as a catalyst for housing finance, the financial marketplace today bears almost no resemblance to that of 1932. FHLBanks now have almost no direct impact on mortgage finance, giving only the statutory minimum of 10% of their net income to support affordable housing, and doing little to support community development.

The CFR will serve as a clearinghouse of FHLBank reform-related published articles, data and studies. It will facilitate analysis and discussion of various elements of reform that will be raised in the FHFA’s report.

Amanda Jacobson Snyder, the chief of staff for the CFR said, “The FHFA is to be congratulated for undertaking this massive review of the FHLBank system. The Coalition looks forward to studying the report and working with coalition members and other stakeholders to achieve lasting, positive reform.”

Individuals or organizations interested in becoming members or receiving updates on the work of the CFR are encouraged to contact the CFR via its web site, FHLBreform.org.

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