Affordable housing

The Federal Home Loan Bank of New York paid its departing director of diversity and inclusion $561,600 after an external review found "oversight issues" that led to a shake-up of the bank's human resources department; CDFI Friendly America launches an online mapping system to spotlight growth opportunities nationwide; global law firm A&O Shearman expands its U.S. debt finance team; and more in this week's banking news roundup.

Vice President Kamala Harris' pledge to deliver 3 million homes has drawn applause from homebuilders, lenders and affordability advocates, but experts are uncertain how her administration would pull it off.

The Federal Home Loan banks must be looking at the shift in presidential polling with alarm. A Democratic victory would open the door to tougher regulation and potential streamlining of the 11-bank system.

Borrowing costs have fallen to their lowest level in more than a year as inflation metrics drop to 2021 levels, seemingly vindicating the Federal Reserve's decision to maintain their restrictive monetary policy.

The administration will release $100 million in grant funds focused on slashing red tape at the state and local levels, and will advance other programs to increase home construction.

The same creativity and flexibility that community development financial institutions bring to business lending ought to be applied to financing affordable housing.

Changes to the regulatory regime surrounding the Federal Home Loan banks should be carefully calibrated so as to do no damage to their successful support for housing and the provision of liquidity to members.

With Americans suffering from high housing costs and declining supply, we cannot afford to watch a massive government-sponsored enterprise sit on billions in retained earnings.

The Federal Housing Finance Agency wants feedback on how the Federal Home Loan banks can improve their affordable housing programs, including efficiencies in the application process.

Analyzed from a property rights perspective, the dividends paid by the Federal Home Loan banks to their members are surprisingly stingy, and vary wildly between the different banks.