WASHINGTON--The Senate confirmed Bill Pulte to be the new director of the Federal Housing Finance Agency (FHFA) by a 56-43 vote.
America’s Credit Unions President/CEO Jim Nussle wrote Pulte Friday to share America’s Credit Unions’ housing priorities.
“Credit unions have a unique role in the financial ecosystem as member-owned, not-for-profit cooperatives, structured to prioritize their members’ interests,” he wrote. “This foundational mission aligns closely with the objectives of the Federal Home Loan Bank (FHLB) system and the broader regulatory framework overseen by the FHFA. Together, we can foster an environment where liquidity, housing affordability, and community investment are accessible to all.”
America’s Credit Unions’ key policy priorities involving the FHFA include encouraging the agency to:
- Prioritize inclusion of credit unions as Community Financial Institutions (CFIs) within the FHLB system, as well as other targeted policy enhancements to align the FHLBs with their original mission
- Preserve access to the secondary market for small lenders, including credit unions, including legislative guarantees for such access
- Use a holistic approach to evaluating FHLB activities that recognizes all actions that contribute to liquidity, affordable housing, and community investment as mission-aligned. Oversight should also encourage innovation and flexibility
- Support voluntary pilot programs and other initiatives that expand access to financial services in vulnerable and underserved communities
- Remain vigilant in its oversight of the entities it regulates to ensure a resilient and stable financial system
- Adopt a forward-looking regulatory approach that fosters innovation while ensuring consumer protections remain robust