Federal Home Loan Bank Act

  • Date: July 22, 1932
  • Intended to lower the cost of home ownership
  • Established the Federal Home Loan Bank Board and Federal Home Loan Banks
    • To charter federal savings and loans, and lend to financial institutions to indirectly finance home mortgages
  • "Public Law 304 was ineffective."
  • "...to establish a credit reserve for mortgage lenders and thus to increase the supply of capital in the housing market."
  • Source: Kenneth T. Jackson, "Crabgrass Frontier: The Suburbanization of the United States", 1985, pp194.
  • Tags: federal-housing-policy hoover

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