Why It Matters
The Federal Home Loan Bank of New York is lobbying to ensure that Congress’ recent moves to reshape the bank’s mission and membership does not put it in peril.
Federal Home Loan Banks are government-sponsored enterprises (GSEs) that provide a reliable source of liquidity to financial institutions engaged in housing finance and community development. They were founded in 1932 to help revive the housing market after the Great Depression, and over the past 93 years, Congress has expanded FHLBank membership eligibility beyond savings institutions and insurance companies to commercial banks, credit unions, and community development financial institutions.
FHLBNY’s continued engagement with Royer Law Firm—a two-decade partner—reflects the high stakes involved in navigating proposals that would alter membership rules, mission definition, and executive governance.
By the Numbers
The Federal Home Loan Bank of New York has invested approximately $4.6 million across 89 disclosure filings since 2003. The organization relies almost exclusively on Royer Law Firm, accounting for $4.485 million through 79 filings over 20 years.
The final quarter 2025 disclosure shows a consistent quarterly spend of $60,000, mirroring competing interests like NAREIT. This represents stable lobbying rather than ramping up advocacy efforts.
The sole registered lobbyist is Robert Stewart Royer, who brings two decades representing FHLBNY and financial services clients including Freddie Mac and Trustco Bank. His expertise centers on banking regulations and housing finance policy.
The Agenda
FHLBNY is lobbying on broad "Housing" and "Banking" issues without designating specific legislation in its fourth quarter 2025 filing. However, the timing reflects active congressional efforts to reshape the FHLB system. Senator Cortez Masto’s bill would refocus the banks on affordable housing while expanding membership eligibility. The engagement also coincides with new FHFA Director William Pulte’s recent confirmation, signaling potential shifts in regulatory oversight. Additionally, Congress is preparing legislation to limit executive compensation at the banks.
Broader Context
Congress is actively considering the Federal Home Loan Banks’ Mission Activities Act (S. 1439). Lawmakers are also preparing legislation to address executive compensation practices, responding to data showing 31 FHLBank executives earned over $1 million in 2024.
The confirmation of William Pulte as FHFA Director represents a potential shift in regulatory priorities. Broader housing affordability legislation—including the American Housing and Economic Mobility Act of 2025 (S. 934)—creates opportunities for expanded FHLB system involvement.
Between The Lines
The Federal Home Loan Banks’ Mission Activities Act could fundamentally reshape the system by refocusing banks on housing and community development while expanding membership. The Senate Banking Committee has advanced bipartisan housing affordability legislation positioning the FHLB system as a key policy mechanism.
Executive compensation has become a congressional flashpoint, with Senators Banks and Masto introducing legislation granting the FHFA Director authority to set reasonable compensation levels for senior FHLB executives.
Competitive Landscape
FHLBNY faces advocacy competition from multiple stakeholders. NAREIT consistently lobbies on FHLB membership rules, spending $60,000 quarterly through 2025, signaling interest from other financial sectors seeking FHLB liquidity access. The Federal Home Loan Bank of Cincinnati also actively lobbies on system legislation, with various regional FHLBanks vying to shape reform debates.
The Bottom Line
FHLBNY paid $60,000 to Royer Law Firm in fourth quarter 2025 for advocacy on housing and banking issues. The engagement reflects ongoing congressional pressure to reform the FHLB system, including Cortez Masto’s mission reform bill, alongside heightened regulatory scrutiny under new FHFA Director William Pulte.
Access the Legis1 platform for comprehensive political news, data, and insights.