New YorkA 56002025-2026 Regular SessionHouseWALLET

Relates to certain voidable transfers affecting a federal home loan bank

Sponsored By: Pamela J. Hunter (Democratic)

Became Law

INSURANCERULES

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Protects Federal Home Loan Bank rights

The law protects deals between an insurer and a Federal Home Loan Bank (FHLB) during receivership. A receiver cannot undo ordinary, pre‑proceeding transfers made under an FHLB security agreement, unless they were made to hinder, delay, or defraud. The receiver also cannot void FHLB stock redemptions or repurchases made within four months before the case starts, or ones the receiver approved. Courts and others cannot block an FHLB from enforcing rights in its security agreements. The receiver cannot reject or disavow FHLB security, pledge, collateral, or guarantee agreements.

Quicker collateral release and fee deferral options

When a receiver asks, the FHLB must, within 10 days, set out how and when it will release excess collateral, release collateral after full repayment, handle fees, and run deposits and accounts. It must also address possible redemption or repurchase of required or excess FHLB stock. The FHLB must offer any acceptable ways to renew or restructure an advance so prepayment fees can be deferred. These options must fit market conditions, the advance’s terms, FHLB policies, and federal law.

Sponsors & Cosponsors

Sponsor

Pamela J. Hunter
Democratic • House

Cosponsors

Al Taylor
Democratic • House
Chantel Jackson
Democratic • House
Chris Burdick
Democratic • House
David Weprin
Democratic • House
Jo Anne Simon
Democratic • House
Khaleel Anderson
Democratic • House
Rebecca Seawright
Democratic • House
Sarah Clark
Democratic • House
Steve Stern
Democratic • House
William Magnarelli
Democratic • House

Roll Call Votes

All Roll Calls

Yes: 58 • No: 1

House vote • 6/12/2025

FLOOR Vote