Comment Detail
Date: 07/03/24 First Name: Jim Last Name: Schlotfeldt Email: jschlotfeldt@firstfedweb.com Organization Type: organization Organization: First Federal Savings and Loan Assoc. of McMinnville Comment
I have worked with the FHLB Seattle and now the FHLB Des Moines for 32 years as a CFO and now CEO of a member - owner of the cooperative. Over the years at three different financial institutions access to FHLB services and in particular as a source of funding was critical to our operations. The FHLB system has stood ready to provide funding when we needed it, even when other sources of funding closed during the Great Recession. Congress is responsible for the FHLB mission, not the FHFA. Any changes to the FHLB system and its mission should be determined by Congress.
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