ABA offers recommendations for improving community investment programs.
The
Among other things, the rule makes changes to Fannie's and Freddie's Equitable Housing Finance Plans to promote greater accountability, adds oversight of unfair or deceptive acts or practices to FHFA's fair housing and fair lending oversight programs, requires additional certification of compliance by all the entities, and establishes more precise standards related to fair housing, fair lending and equitable housing principles for the entities' boards.
The final rule also creates a new requirement for FHLBs to annually report on any actions they voluntarily take to address barriers to sustainable housing opportunities for underserved communities. However, it does not require the FHLBs to undertake such actions or engage in the planning process required of Fannie or Freddie.
FHFA creates
FHFA also announced the creation of the
The new division will highlight the FHFA's focus on public interest examinations and increase synergy and collaboration between existing public interest examination programs, the agency said.
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