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S 1990119th CongressIntroduced
CURB Act
Introduced: Jun 9, 2025
Financial ServicesHousing & Urban Development
Standard Summary
Comprehensive overview in 1-2 paragraphs
The CURB Act would give the Director of the Federal Housing Finance Agency (FHFA) the explicit authority to set compensation for executive officers of Federal Home Loan Banks (FHL Banks). The compensation would have to be reasonable and comparable, determined under regulations issued by the Director. The bill would override a current constraint in the FHFA Act (12 U.S.C. 4518(d)) to allow the Director to determine pay levels for these executives. Additionally, the bill eliminates a transition rule related to this compensation framework. In short, it centralizes and formalizes who sets executive pay at FHL Banks and ties it to a defined standard of reasonableness and comparability, per the Director’s regulations.
Key Points
- 1The Director of the FHFA may establish compensation for executive officers of Federal Home Loan Banks.
- 2Compensation must be reasonable and comparable, as determined under regulations promulgated by the Director.
- 3The Director may set pay notwithstanding the limitations in 12 U.S.C. 4518(d) (the current law referenced).
- 4The bill strips out the existing transition rule related to compensation changes.
- 5Short title: “Curtailing Unreasonable Remuneration at Banks Act” or the CURB Act.
Impact Areas
Primary group/area affected: Executive officers of Federal Home Loan Banks and the FHFA as the regulator and pay-setter.Secondary group/area affected: Federal Home Loan Banks as institutions (governance, compensation practices, recruitment and retention).Additional impacts: Potential changes in risk incentives and governance practices at FHL Banks; potential scrutiny over whether compensation aligns with public interest and taxpayer considerations; regulatory and compliance implications for how pay is determined and documented.
Generated by gpt-5-nano on Oct 3, 2025