The financial reform bill would also implement changes long sought by the 12 Federal Home Loan banks.

Membership would finally be voluntary, freeing roughly 1,100 thrifts that have been required to buy stock in one of the banks. The legislation would also make it easier for institutions with less than $500 million of assets to get advances. Collateral that could be accepted for an advance would be expanded to include small-business and farm loans.

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