Federal Home Loan Bank Act
The Federal Home Loan Bank Act is a
United States federal lawpassed in 1932 under President Herbert Hooverin order to lower the cost of home ownership.
It established the
Federal Home Loan Bank Boardto charter and supervise federal savings and loaninstitutions. It also created the Federal Home Loan Banks which lend to S&Ls in order to finance home mortgages.
The act was notably amended by
Financial Institutions Reform, Recovery and Enforcement Act of 1989, which transferred regulation of thrifts to the Office of Thrift Supervision.
* [http://www.fhfb.gov/Default.aspx?Page=70 History and text of the Act at the FHFB web page]
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