Federal Home Loan Banks' Mission Activities Act

This bill makes changes to the Federal Home Loan Bank system, which is a group of 11 regional banks that help support mortgage lending and community investment. It requires these banks to put more money each year toward affordable housing and community development programs. The bill also makes it easier for small credit unions and community development financial institutions to join the system and lets them use borrowed funds for things beyond mortgages, like small business activities. Additionally, it sets guidelines for how much the banks' top executives can be paid, requiring that their pay be reasonable and take into account how much the bank invests in affordable housing and community programs.

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