# 119-s-1439: Federal Home Loan Banks' Mission Activities Act

119-s-1439, Federal Home Loan Banks' Mission Activities Act, is a 119th Congress bill sponsored by Sen. Cortez Masto, Catherine [D-NV] (D-NV); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-1439
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-1439
- Congress: 119
- Title: Federal Home Loan Banks' Mission Activities Act
- Status: introduced
- Introduced: 2025-04-10
- Sponsor: Sen. Cortez Masto, Catherine [D-NV] (D-NV)
- Cosponsors: 0
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Would expand the Federal Home Loan Banks' role in financing affordable housing and community development.** It would broaden the Banks' tools, add more community lenders as members, and tie executive pay to mission goals. - Families and renters would gain more support for long-term, low- and moderate-income housing through grants and subsidized advances, with a minimum annual Affordable Housing Program funding of $200 million and a requirement to allocate 30 percent of the prior year's net income to the program starting in 2025. - Community financial institutions such as credit unions and certified community development financial institutions would become eligible members under new criteria, including an asset threshold of less than $1 billion in average total assets over the prior 3 years or CDFI certification. - Federal Home Loan Banks would be allowed to use grants, subsidized financing, advances, and credit enhancements to support members, would face new executive compensation rules that link pay to mission outcomes and regional benchmarks, and would have to provide an annual collateral report to Congress.

## Provisions PRIA read

- More affordable housing help from Banks: benefit, high. If enacted, each Federal Home Loan Bank would create an Affordable Housing Program to finance long-term low- and moderate-income owner and rental housing. The Program could subsidize interest on advances or provide grants, and member lenders must pass subsidies on to borrowers. Starting in 2025, Ba…
- More Bank membership for small lenders: benefit, low. If enacted, smaller institutions could join Federal Home Loan Banks more easily. Institutions with insured deposits and under $1 billion in average total assets (3-year average) could qualify as community financial institutions for membership. CDFI-certified institutions would also qualify. This co…
- Bank executive pay tied to mission: mixed, low. If enacted, the Director would set reasonable compensation rules for Federal Home Loan Bank executives using regional Federal Reserve Banks as a benchmark. The Director must consider mission-investment metrics when setting pay. Pay could exceed regional levels if Banks meet mission targets.

## Related bills

- 119-s-5283: Momnibus Act
- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2022: Tribal Tax and Investment Reform Act of 2025
- 119-s-2234: Reducing Homelessness Through Program Reform Act
- 119-s-5215: Cleaner Transportation Access for All Act
- 119-s-2231: GLOBE Act of 2025

## Sources
- [119-s-1439 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/1439)

## Related
- [119-s-5283: Momnibus Act](https://policyrisk.com/legislation/119-s-5283)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2022: Tribal Tax and Investment Reform Act of 2025](https://policyrisk.com/legislation/119-s-2022)
- [119-s-2234: Reducing Homelessness Through Program Reform Act](https://policyrisk.com/legislation/119-s-2234)
- [119-s-5215: Cleaner Transportation Access for All Act](https://policyrisk.com/legislation/119-s-5215)
- [119-s-2231: GLOBE Act of 2025](https://policyrisk.com/legislation/119-s-2231)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-1439 (as of 2026-04-21).