Manufactured Housing Trips New York FHLBank; Questions Raised About Regulatory Oversight
October 3, 2003
Troubles with securities investments made by two Federal Home Loan Banks have fueled questions on Capitol Hill about whether federal regulators are keeping a close enough eye on FHLBank activities. The ability of the Federal Housing Finance Board to track FHLBank investments arose last week during a hearing before the House Financial Services Committee. The panel focused on regulatory reforms for government-sponsored enterprises, and