WASHINGTON (12/4/09)--The Credit Union National Association has published a final rule analysis on the Federal Housing Finance Board’s final rule on the election of Federal Home Loan Bank (FHLB) directors. The Federal Housing Finance Agency’s amendment, which became effective on Nov. 6, will divide FHLB boards of directors into two categories, member directors and independent directors. Member directors will be elected on a state-by-state basis, and independent directors will be elected at-large by FHLB members. Directors will be limited to three consecutive terms of four years. To read the full analysis, use the resource link.