P: 940-368-7076 F: 940-205-5015.Trade groups balk at FHFA attempt to redefine Home Loan Bank membership The Federal Housing Finance Agency ("FHFA") issued a final rule governing federal home Loan Bank ("FHLB") membership requirements on January 12 th.The FHFA dropped a part of the 2014 proposal that would have required home loan Bank members to.
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Trade groups balk at FHFA attempt to redefine Home Loan Bank membership. the Federal Housing Finance Agency extended the comment period for its proposed rule on Federal Home Loan Bank.
The proposed rule would revise the FHFA’s existing membership regulation to require that members maintain a commitment to housing finance – and that only eligible entities gain access to bank. In response to this proposal the Board received approximately 6,000 comments from creditors, mortgage brokers, trade associations, consumer groups, federal agencies, state regulators and attorneys.
Michigan credit union ex-CFO shockingly confesses to embezzling $20 million FENTON, Mich.–Michael LaJoice, the former CU CFO who allegedly stole more than $20 million, has been found competent to stand trial. A psychologist with the state of Michigan’s Center for Forensic Psychiatry said LaJoice, the former CFO at Clarkston Brandon Community Credit Union, is fit to go to trial in February of 2017.
Membership Provides Strength in Numbers Federal Home Loan Bank membership provides financial institutions with additional fiscal strength to better serve their communities. The Federal Home Loan Bank of Dallas is one of 11 regional banking cooperatives that provide member institutions with wholesale lending, credit, and related financial.
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FHFA Issues Final Rule on Federal Home Loan Bank Membership. To minimize disruption of current members and the FHLBank System, the rule allows FHLBank captive insurer members that joined prior to FHFA’s proposed rule up to five years to terminate their membership and those that joined after issuance of the proposed rule up to one year to terminate.