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In response to that growing criticism plus how much has changed in markets, legislation, and regulation during the 90-plus years of the FHLBanks’ existence, its regulator – the Federal Housing Finance Agency (FHFA) – announced in 2022 that it would undertake a review of the entire System.
This is in the news more recently because of alleged bribes to a councilmember (" Trayon White expelled from the DC Council for corruption but hes free to run for his old seat ," AP) and governmentemployee (" Former DC government official charged with taking bribe ,"NBC4) by a grantee eager to secure their place in the system.
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