An influential banking trade group this week argued that the Federal Housing Finance Administration (FHFA) should not permit nonbank lenders and real estate investment trusts to become members of the $1 trillion Federal Home Loan Bank system.

In a statement issued Tuesday, Rebecca Romero Rainey, president of the Independent Community Bankers of America, said the FHLBs must “remain a strong, stable and reliable source of funding for community banks, including many agricultural lenders.”

The FHFA is conducting a comprehensive review of the 90-year-old FHLB system details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com