Federal RuleAug 21
62
DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
RuleLabor DepartmentFederal Contract Compliance Programs OfficeSignificant Wallet
119-s-1990119th CongressWALLET
CURB Act
Sponsored By: Senator Banks, Jim [R-IN]
Introduced
Summary
Gives the Federal Housing Finance Agency Director explicit authority to set pay for executive officers of the Federal Home Loan Banks. The authority would require that compensation be reasonable and comparable and would operate under regulations the Director issues.
Show full summary
- Executive officers of Federal Home Loan Banks would have their salaries set under FHFA rules instead of only being subject to a withholding-focused regime. This means pay levels would be determined by a federal regulator using reasonableness and comparability standards.
- Federal Home Loan Bank boards would need to follow FHFA-established pay rules for top executives rather than relying on the prior transition and withholding language. This shifts the practical control over top pay to the FHFA Director.
- The FHFA Director would gain explicit rulemaking authority to define and implement standards for executive compensation. The statute ties the Director's powers to regulations the Director promulgates, putting details of the policy into agency rules.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
FHFA could set FHLB executive pay
This bill would give the FHFA Director authority to set pay for any executive officer at a Federal Home Loan Bank. The Director would have to make pay "reasonable and comparable" and follow rules the Director writes. The bill would also remove a previous transition rule in the Federal Home Loan Bank Act. If enacted, this would mainly affect bank executives and the banks, not most households.
Sponsors & CoSponsors
Sponsor
Banks, Jim [R-IN]
IN • R
Cosponsors
Sen. Cortez Masto, Catherine [D-NV]
NV • D
Sponsored 6/9/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov