To amend the Housing and Community Development Act of 1974 and the Federal Home Loan Bank Act to increase capital available to communities for community and economic development projects, and for other purposes.
Amends the Federal Home Loan Bank Act to set forth parameters within which: (1) Federal home loan banks may make advances to a nonmember mortgagee for community lending purposes; and (2) each Federal home loan bank shall establish a Community Lending Fund to facilitate community lending by its members and nonmember mortgagees.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Housing and Community Opportunity.
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