Comment Detail
Date: 07/12/24 First Name: Duane Last Name: Peterson Email: dpeterson@statebankoftaunton.com Organization Type: other Organization: State Bank of Taunton Comment
I am currently president & CEO of a community bank in Minesota, and strongly oppose any changes that would update the regulatory statement of the Federal Home Loan Bank's system mission. The Federal Housing Finance Agency should not be allowed to use FHLB funds for their needs. FHLB banks have managed to operate without a loss for almost 100 years, and to change their mission and operating guidelines would be very harmful to this nation's community banking system and therefore to the general public that is assisted with real estate loans provided by the community banks. FHLB's mission was established by Congress and is clearly outlined in the Federal Home Loan Bank Act, and any changes to that mission statement should only be directed by Congress, and as I recall, the Supreme Court found that any changes must have clear congressional authorization, and not be determined by the Federal Housing Finance Agency. Thank you.
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