View source for Federal Home Loan Bank Act

{{Infobox U.S. legislation
| shorttitle        = Federal Home Loan Bank Act
| othershorttitles  = 
| longtitle         = An Act to create Federal Home Loan Banks, to provide for the supervision thereof, and for other purposes.
| colloquialacronym = 
| nickname          = Federal Home Loan Bank Act of 1932
| enacted by        = 72nd
| effective date    = July 22, 1932
| public law url    = http://legisworks.org/congress/72/publaw-304.pdf
| cite public law   = 72-304
| cite statutes at large = {{usstat|47|725}}
| acts amended    = 
| acts repealed   = 
| title amended   = [[Title 12 of the United States Code|12 U.S.C.: Banks and Banking]]
| sections created = {{Usc-title-chap|12|11}} § 1421 et seq.
| sections amended = 
| leghisturl      = 
| introducedin    = House
| introducedbill  = {{USBill|72|H.R.|12280}}
| introducedby    = [[Michael Reilly (Wisconsin politician)|Michael Reilly]] ([[Democratic Party (United States)|D]]–[[Wisconsin|WI]])
| introduceddate  = May 25, 1932
| committees      = [[United States House Committee on Financial Services|House Banking and Currency]], [[United States Senate Committee on Banking, Housing, and Urban Affairs|Senate Banking and Currency]]
| passedbody1     = House
| passeddate1     = June 15, 1932
| passedvote1     = Passed
| passedbody2     = Senate
| passedas2       = <!-- used if the second body changes the name of the legislation -->
| passeddate2     = July 12, 1932
| passedvote2     = Passed
| conferencedate  = July 13, 1932
| passedbody3     = House
| passeddate3     = July 16, 1932
| passedvote3     = Agreed
| agreedbody3     = <!-- used when the other body agrees without going into committee -->
| agreeddate3     = <!-- used when the other body agrees without going into committee -->
| agreedvote3     = <!-- used when the other body agrees without going into committee -->
| agreedbody4     = <!-- used if agreedbody3 further amends legislation -->
| agreeddate4     = <!-- used if agreedbody3 further amends legislation -->
| agreedvote4     = <!-- used if agreedbody3 further amends legislation -->
| passedbody4     = Senate
| passeddate4     = July 16, 1932
| passedvote4     = Agreed
| signedpresident = [[Herbert Hoover]]
| signeddate      = July 22, 1932
| unsignedpresident = <!-- used when passed without presidential signing -->
| unsigneddate    = <!-- used when passed without presidential signing -->
| vetoedpresident = <!-- used when passed by overriding presidential veto -->
| vetoeddate      = <!-- used when passed by overriding presidential veto -->
| overriddenbody1 = <!-- used when passed by overriding presidential veto -->
| overriddendate1 = <!-- used when passed by overriding presidential veto -->
| overriddenvote1 = <!-- used when passed by overriding presidential veto -->
| overriddenbody2 = <!-- used when passed by overriding presidential veto -->
| overriddendate2 = <!-- used when passed by overriding presidential veto -->
| overriddenvote2 = <!-- used when passed by overriding presidential veto -->
| amendments      = 
| SCOTUS cases    = 
}}
The '''Federal Home Loan Bank Act''', {{USStatute|72|304|47|725|1932|07|22}}, is a [[United States federal law]] passed under President [[Herbert Hoover]] in order to lower the cost of home ownership.<ref>{{cite web |url= http://www.presidency.ucsb.edu/ws/?pid=23176 |title= Herbert Hoover: "Statement About Signing the Federal Home Loan Bank Act.," July 22, 1932 |author1=Peters, Gerhard |author2=Woolley, John T |publisher = University of California - Santa Barbara |work= The American Presidency Project}}</ref> It established the [[Federal Home Loan Bank Board]] to charter and supervise federal [[savings and loan]] institutions.  It also created the [[Federal Home Loan Bank]]s which lend to building and loan associations, cooperative banks, homestead associations, insurance companies, savings banks, community development financial institutions, and insured depository institutions in order to finance home [[mortgage loan|mortgage]]s.

==Amendments==
===Successful===
The act was notably amended by [[Financial Institutions Reform, Recovery and Enforcement Act of 1989]], which transferred regulation of [[Savings and loan association|thrift]]s to the [[Office of Thrift Supervision]].

===Proposed===
On November 21, 2013, Rep. [[Steve Stivers]] introduced the bill [[To amend the Federal Home Loan Bank Act to authorize privately insured credit unions to become members of a Federal home loan bank (H.R. 3584; 113th Congress)]] into the [[United States House of Representatives]].<ref name=3584sum>{{cite web|title=H.R. 3584 - Summary|url=http://beta.congress.gov/bill/113th-congress/house-bill/3584|publisher=United States Congress|accessdate=4 May 2014}}</ref> The bill would amend the Federal Home Loan Bank Act to treat certain privately insured [[credit union]]s as insured depository institutions for purposes of determining eligibility for membership in a federal home loan bank.<ref name="3584sum"/> The bill was scheduled to be voted on under a [[suspension of the rules]] on May 6, 2014.<ref name=HouseExIRS>{{cite news|last=Marcos|first=Cristina|title=The week ahead: House to hold ex-IRS official in contempt|url=https://thehill.com/blogs/floor-action/scheduling/205099-the-week-ahead-house-to-hold-ex-irs-official-in-contempt/|access-date=5 May 2014|newspaper=The Hill|date=2 May 2014}}</ref>

==References==
'''Notes'''
{{reflist}}

==External links==
{{Portal|Banks}}
* [https://www.govinfo.gov/content/pkg/COMPS-268/uslm/COMPS-268.xml Federal Home Loan Bank Act] ([https://www.govinfo.gov/content/pkg/COMPS-268/pdf/COMPS-268.pdf PDF]/[https://www.govinfo.gov/app/details/COMPS-268/ details]) as amended in the [[United States Government Publishing Office|GPO]] [https://www.govinfo.gov/help/comps Statute Compilations collection]
* [https://web.archive.org/web/20101006170212/http://fhfa.gov/Default.aspx?Page=113 History and text of the Act at the Federal Housing Finance Agency web page]

{{Herbert Hoover}}
{{Bank regulation in the United States|state=collapsed}}

[[Category:1932 in American law]]
[[Category:72nd United States Congress]]
[[Category:United States federal banking legislation]]
[[Category:United States federal housing legislation]]
[[Category:Mortgage legislation]]

{{Econ-policy-stub}}