Federal Independent Agencies
Here's a look at documents from federal independent agencies
Featured Stories
SSA OIG Highlights Fiscal Year 2027 Budget Priorities and Oversight Impact Before Congressional Subcommittees
WOODLAWN, Maryland, June 13 -- The Social Security Administration's Office of the Inspector General issued the following news release:
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SSA OIG Highlights Fiscal Year 2027 Budget Priorities and Oversight Impact Before Congressional Subcommittees
Michelle L. Anderson, Assistant Inspector General for Audit and First Assistant for the Social Security Administration (SSA) Office of the Inspector General (OIG), submitted written testimony for the record on June 10, 2026 pertaining to the U.S. House of Representativces Committee on Ways and Means Joint Social Security and Work & Welfare Subcommittee
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WOODLAWN, Maryland, June 13 -- The Social Security Administration's Office of the Inspector General issued the following news release:
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SSA OIG Highlights Fiscal Year 2027 Budget Priorities and Oversight Impact Before Congressional Subcommittees
Michelle L. Anderson, Assistant Inspector General for Audit and First Assistant for the Social Security Administration (SSA) Office of the Inspector General (OIG), submitted written testimony for the record on June 10, 2026 pertaining to the U.S. House of Representativces Committee on Ways and Means Joint Social Security and Work & Welfare SubcommitteeHearing with the Commissioner of the Social Security Administration, Frank J. Bisignano regarding SSA OIG's Fiscal Year (FY) 2027 budget request and oversight priorities.
In her testimony, Anderson emphasized SSA OIG's critical role in protecting Social Security programs through independent audits, investigations, and anti-fraud initiatives that safeguard taxpayer dollars and ensure benefits reach eligible beneficiaries.
"Social Security is a cornerstone of economic security for more than 72 million Americans--retirees, people with disabilities, survivors, and their families," Anderson said. "Our independent audits and investigations identify weaknesses, recommend improvements, and protect taxpayer dollars from fraud, waste, and abuse. This oversight is critical to maintaining public trust and ensuring benefits reach those who need them most."
The President's FY 2027 Budget requests $114.7 million in direct appropriations for SSA OIG, including $2 million for information technology modernization, as well as $25.1 million to support SSA OIG's leadership of the Cooperative Disability Investigations (CDI) Program.
Anderson highlighted SSA OIG's strong return on investment, noting that in FY 2025 the OIG returned approximately $16 for every $1 appropriated. During that year, SSA OIG audits identified about $708 million in questioned costs and nearly $975 million in funds that could be put to better use, while investigations resulted in 566 criminal convictions and almost $332 million in monetary accomplishments.
The testimony also outlined key FY 2027 priorities, including combating improper payments, strengthening disability fraud prevention efforts through the CDI Program, addressing emerging threats involving artificial intelligence, protecting beneficiaries from Social Security-related scams, supporting information technology modernization, and conducting oversight related to service delivery and program integrity.
"Every dollar invested in SSA OIG oversight yields substantial savings, strengthens program integrity, and ensures benefits reach those who are truly eligible and depend on Social Security programs," Anderson stated. "The funding requested in the FY 2027 Budget supports SSA OIG to ensure it remains steadfast in its mission to guarantee accountability and integrity within SSA."
The full written testimony is available here (https://oig.ssa.gov/assets/uploads/joint-hearing-on-the-budget-for-fiscal-year-2027.pdf).
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Original text here: https://oig.ssa.gov/news-releases/2026-06-12-ssa-oig-highlights-fiscal-year-2027-budget-priorities-and-oversight-impact-before-congressional-subcommittees-1/
Honduras to Strengthen Fiscal Sustainability With $100 Million in IDB Financing
WASHINGTON, June 13 -- The Inter-American Development Bank issued the following news release:
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Honduras to Strengthen Fiscal Sustainability with $100 Million in IDB Financing
The Board of Executive Directors of the Inter-American Development Bank (IDB) has approved a $100 million programmatic policy-based loan to support structural reforms that will strengthen fiscal sustainability in Honduras.
The loan is the first of two standalone, but technically linked operations, designed to strengthen regulatory and institutional capacity that improve the country's fiscal resilience to external
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WASHINGTON, June 13 -- The Inter-American Development Bank issued the following news release:
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Honduras to Strengthen Fiscal Sustainability with $100 Million in IDB Financing
The Board of Executive Directors of the Inter-American Development Bank (IDB) has approved a $100 million programmatic policy-based loan to support structural reforms that will strengthen fiscal sustainability in Honduras.
The loan is the first of two standalone, but technically linked operations, designed to strengthen regulatory and institutional capacity that improve the country's fiscal resilience to externalshocks.
The first IDB operation will strengthen the country's fiscal responsibility framework and enhance institutional capacity for macrofiscal management within the Ministry of Finance. It will also support reforms to improve efficiency, oversight, and transparency of tax incentives, and promote key improvements in public expenditure management, particularly in public procurement, treasury management, and public investment.
The program aims to reduce public debt, strengthen the primary balance, rationalize tax expenditures, enhance the quality of public investment projects, and improve capital expenditure execution. These reforms are expected to bolster fiscal sustainability and improve the overall business environment in the country, benefiting both firms and the population at large.
The $100 million IDB financing consists of $60 million from the Bank's Ordinary Capital, with a 20-year maturity, a 5.5-year grace period, and an interest rate based on SOFR. The remaining $40 million will be provided from the IDB's Concessional Ordinary Capital, with a 0.25% interest rate and a 40-year maturity and grace period.
This operation is aligned with the ongoing 2023 agreement with the International Monetary Fund (IMF) and complements fiscal policy programs supported by the World Bank and the Development Bank of Latin America and the Caribbean (CAF).
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About the IDB
The Inter-American Development Bank (IDB), a member of the IDB Group, is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the Bank works with the region's public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise, and knowledge, it promotes growth and well-being in 26 countries.
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Original text here: https://www.iadb.org/en/news/honduras-strengthen-fiscal-sustainability-100-million-idb-financing
North Dakota Derailment and Hazardous Materials Release Prompts Renewed Call to Accelerate Phase Out of DOT-111 Tank Cars and Raises Concerns About Retrofitted DOT-117R Tank Cars
WASHINGTON, June 12 -- The National Transportation Safety Board issued the following news release on June 11, 2026:
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North Dakota Derailment and Hazardous Materials Release Prompts Renewed Call to Accelerate Phase Out of DOT-111 Tank Cars and Raises Concerns About Retrofitted DOT-117R Tank Cars
NTSB also calls for safer placement of hazardous materials cars in train consists
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The National Transportation Safety Board on Thursday reiterated recommendations to accelerate the phase out of DOT-111 tank cars and raised concerns about the safety of DOT-117R railcars transporting hazardous materials
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WASHINGTON, June 12 -- The National Transportation Safety Board issued the following news release on June 11, 2026:
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North Dakota Derailment and Hazardous Materials Release Prompts Renewed Call to Accelerate Phase Out of DOT-111 Tank Cars and Raises Concerns About Retrofitted DOT-117R Tank Cars
NTSB also calls for safer placement of hazardous materials cars in train consists
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The National Transportation Safety Board on Thursday reiterated recommendations to accelerate the phase out of DOT-111 tank cars and raised concerns about the safety of DOT-117R railcars transporting hazardous materialsfollowing its investigation of a 2024 derailment in North Dakota. Additionally, the agency called for the safer placement of hazardous material cars in train consists.
The Canadian Pacific Kansas City Railroad freight train derailed 29 railcars, including 17 hazardous material tank cars, when the train traversed a broken rail caused by a track bed collapse from a degraded culvert in Bordulac, North Dakota, on July 5, 2024. The derailed tank cars included DOT-111s, DOT-112s, and DOT-117s.
Methanol, a flammable hazardous material, was released from some of the derailed tank cars and led to a pool fire. The heat from the pool fire resulted in the release of anhydrous ammonia, a poisonous-by-inhalation gas, from other derailed cars. Three of these tank cars were carrying anhydrous ammonia and showed evidence of thermal tears due to pool fire exposure. In all, nine hazardous material tank cars were breached during or after the derailment and released their contents. No injuries were reported.
This accident was one of the first major derailments involving a hazardous materials release the NTSB has investigated since the 2023 Norfolk Southern Railway derailment in East Palestine, Ohio. As in East Palestine, DOT-111 tank cars released hazardous materials in the Bordulac derailment. The Bordulac investigation found that the continued use of DOT-117R tank cars, which are retrofitted DOT-111 tank cars that have a thinner shell thickness, has not resulted in the same safety improvements as newly built DOT-117J tank cars.
NTSB investigations have long shown that DOT-111 tank cars are dangerously inadequate, particularly because they are highly vulnerable to puncture during derailments. The NTSB has repeatedly warned that these cars do not provide adequate protection and has called for stronger tank car designs to reduce the risk of hazardous materials releases, fires, and explosions.
The NTSB has investigated train derailments where DOT-111 tank cars performed poorly going back to the 1990s. Between 2006 and 2012, alone, there were several derailments with major flammable liquids releases and fires involving DOT-111 tank cars.
On June 19, 2009, 19 DOT-111 tank cars carrying ethanol derailed, in Cherry Valley, Illinois, killing one person and injuring seven others who were stopped in automobiles at a grade crossing. The NTSB recommended that the Pipeline and Hazardous Materials Safety Administration require significantly more durable and puncture-resistant tank cars for transporting crude oil and ethanol. Specifically, the NTSB called for enhanced tank head and shell puncture-resistance systems, improved protection for top fittings, and bottom outlet valves designed to remain closed during accidents, even when subjected to impact forces, to prevent hazardous materials releases.
The NTSB also found that industry-recommended practices and federal requirements for the placement of cars within a train consist do not sufficiently protect against harmful interactions that can occur between adjacent tank cars carrying poison inhalation hazardous materials and flammable liquids in a derailment scenario.
The NTSB issued 11 new recommendations to the Pipeline and Hazardous Materials Safety Administration, the Association of American Railroads, the American Short Line and Regional Railroad Association, and CPKC. The Board reiterated six recommendations to the Federal Railroad Administration and the Pipeline and Hazardous Materials Safety Administration, including phase out of DOT-111s.
Among the new safety recommendations, NTSB recommended the Pipeline and Hazardous Materials Safety Administration:
* Issue guidance for the selection of an optimal pressure relief device based on the characteristics of the poison inhalation hazard material transported in a tank car.
* Develop and implement new thermal performance criteria for tank cars carrying liquefied gases classified as poison inhalation hazard materials that allow for no release of the tank car's lading during a fully engulfing pool fire except through reclosing pressure relief devices.
* In coordination with the Association of American Railroads, identify the appropriate amount of separation between tank cars transporting poison inhalation hazard materials, including anhydrous ammonia, and those transporting flammable hazardous materials to reduce the likelihood of poison inhalation hazard tank cars being exposed to pool fire conditions.
NTSB recommended the Association of American Railroads revise the formula for required pressure relief device flow capacity and the requirements for pressure relief devices and thermal protection systems to ensure the survivability of tank cars carrying poison inhalation hazard materials in engulfing pool fire conditions.
NTSB recommended CPKC revise its culvert inspection procedures to require every culvert to be inspected internally, either on foot when safe or by using technology, such as cameras or remotely operated vehicles.
Railroad Investigation Report 26-07, the safety recommendations and the docket are available online.
To report an incident/accident or if you are a public safety agency, please call 1-844-373-9922 or 202-314-6290 to speak to a Watch Officer at the NTSB Response Operations Center (ROC) in Washington, DC (24/7).
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Original text here: https://www.ntsb.gov/news/press-releases/Pages/NR20260611.aspx
Inter-American Development Bank: 'Learning About Inflation and Exchange Rates: Beliefs and Consumer Behavior in a Small Open Economy'
WASHINGTON, June 12 (TNSLrpt) -- The Inter-American Development Bank issued the following white paper in June 2026 entitled "Learning about Inflation and Exchange Rates: Beliefs and Consumer Behavior in a Small Open Economy."
Here are excerpts:
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Introduction
Households routinely make consumption decisions under uncertainty about nominal macroeconomics variables like inflation and exchange rates. In many open, high-inflation economies, these variables are salient in everyday life through frequent price changes and visible exchange rate movements, and they are key drivers of economic behavior
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WASHINGTON, June 12 (TNSLrpt) -- The Inter-American Development Bank issued the following white paper in June 2026 entitled "Learning about Inflation and Exchange Rates: Beliefs and Consumer Behavior in a Small Open Economy."
Here are excerpts:
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Introduction
Households routinely make consumption decisions under uncertainty about nominal macroeconomics variables like inflation and exchange rates. In many open, high-inflation economies, these variables are salient in everyday life through frequent price changes and visible exchange rate movements, and they are key drivers of economic behaviorin macro models (Frenkel, 1976; Lucas, 1982). However, most empirical work on macroeconomic expectations study inflation expectations in isolation (e.g., Armantier et al., 2016; Malmendier and Nagel, 2016; Cavallo et al., 2017; Coibion et al., 2022, 2018; Candia et al., 2024), while how households form and update beliefs across multiple nominal variables has received less attention.
In small open economies, inflation and nominal exchange rates are closely connected through sizable pass-through from exchange rates to consumer prices, particularly in emerging and developing countries (e.g., Dornbusch, 1976; Obstfeld and Rogoff, 1995; Burstein and Gopinath, 2014). For instance, cross-country studies report that a 1 percent depreciation raises consumer prices by about 0.6 to 0.8 percent in emerging and small open economies, compared to 0.1 to 0.2 percent in advanced economies (Burstein and Gopinath, 2014; Ha et al., 2020). The macro-level relationship between these nominal variables raises two related questions: whether household inflation perceptions and nominal exchange rate beliefs themselves exhibit pass-through, and whether these beliefs meaningfully drive intertemporal decisions such as the accumulation of durable assets.
In this paper, we explore two questions. First, we study how households form and update expectations about inflation and nominal exchange rates, and whether these beliefs exhibit pass-through when households receive new information. Second, we examine how these macroeconomic expectations affect household accumulation of durable assets in the medium run. To answer these questions, we conducted a phone survey experiment in Suriname, a small open economy with a long history of inflation and exchange rate volatility (Ooft, 2023). In 2020, we randomly assigned 888 respondents (drawn from the 2017 Suriname Survey of Living Conditions (SSLC)) to receive expert forecasts on inflation only, expert forecasts on both inflation and exchange rates, or no information. In the survey, we elicited respondents' prior and posterior beliefs about these macroeconomic variables. In particular, we elicited inflation expectations using expected changes in the price of flour, a salient staple good, which we use as a proxy for households' broader inflation perceptions. The question explicitly frames flour as representative of changes in the general price level, while using a familiar price to make the elicitation concrete and interpretable in a phone survey.
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View full text here: https://publications.iadb.org/publications/english/document/Learning-about-Inflation-and-Exchange-Rates-Beliefs-and-Consumer-Behavior-in-a-Small-Open-Economy.pdf
[Category: IADB]
FHLBank Chicago Expands Down Payment Assistance Network During National Homeownership Month
CHICAGO, Illinois, June 12 -- The Federal Home Loan Bank of Chicago, a district bank in the Federal Home Loan Bank System, issued the following news:
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FHLBank Chicago Expands Down Payment Assistance Network During National Homeownership Month
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During National Homeownership Month, Federal Home Loan Bank of Chicago (FHLBank Chicago) is highlighting expanded access to down payment assistance as more member institutions join its Downpayment Plus (DPP) Program, helping households overcome upfront costs and achieve homeownership.
Four additional FHLBank Chicago member institutions began using
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CHICAGO, Illinois, June 12 -- The Federal Home Loan Bank of Chicago, a district bank in the Federal Home Loan Bank System, issued the following news:
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FHLBank Chicago Expands Down Payment Assistance Network During National Homeownership Month
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During National Homeownership Month, Federal Home Loan Bank of Chicago (FHLBank Chicago) is highlighting expanded access to down payment assistance as more member institutions join its Downpayment Plus (DPP) Program, helping households overcome upfront costs and achieve homeownership.
Four additional FHLBank Chicago member institutions began usingthe program in 2026, expanding the network of lenders connecting homebuyers with financial support. As of the date of this release, the new participants have already supported 10 households with $100,000 in assistance this year, with additional activity expected as demand continues across Illinois and Wisconsin.
Through the DPP Program, FHLBank Chicago provides forgivable grants of up to $10,000 to income-eligible homebuyers to help cover down payment and closing costs. In 2026, FHLBank Chicago made $31 million available through its DPP programs to support homebuyers across its district.
"National Homeownership Month is a reminder that for many households, the biggest barrier to homeownership isn't qualification-its upfront costs," said Katie Naftzger, SVP and Community Investment Officer at FHLBank Chicago. "We're encouraged to see more member institutions leveraging the DPP programs to help bridge that gap and connect more homebuyers with the resources they need."
Participating member institutions include American National Bank - Fox Cities, Town and Country Bank Midwest, Alliant Credit Union and Midland Federal Savings and Loan Association.
Since joining the program in 2026, Midland Federal Savings and Loan Association has supported six households through the DPP Program, delivering $60,000 in down payment assistance through the date of this release.
"We joined the Downpayment Plus Program because we saw firsthand how down payment and closing costs can delay or prevent otherwise qualified buyers from purchasing a home," said Tracy Marks of Midland Federal Savings and Loan Association. "The program gives us another tool to support customers on their path to homeownership and helps make that goal more attainable for households in our community."
According to Midland Federal Savings and Loan Association, one borrower was able to purchase their first home, providing a safe, stable, and permanent place for their children. The grant proved to be truly life-changing, transforming years of hard work and determination into a successful and rewarding home purchase.
Since launching the DPP programs in 1994 through year-end 2025, FHLBank Chicago has allocated more than $330 million in down payment assistance, helping more than 51,000 households achieve homeownership across Illinois and Wisconsin. A significant share of recipients have been first-time homebuyers.
During National Homeownership Month, FHLBank Chicago is encouraging its member institutions and nonprofit partners to leverage the DPP programs to support eligible homebuyers in their communities.
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Original text here: https://www.fhlbc.com/news/news-detail/2026/06/11/fhlbank-chicago-expands-down-payment-assistance-network-duringnational-homeownership-month
EPA Fulfills Statutory Obligation by Transmitting Four California Waiver Rules to Congress
WASHINGTON, June 12 -- The Environmental Protection Agency issued the following news release:
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EPA Fulfills Statutory Obligation by Transmitting Four California Waiver Rules to Congress
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WASHINGTON - Today, in accordance with the Congressional Review Act (CRA), U.S. Environmental Protection Agency (EPA) transmitted four California waiver rules to Congress that have given the state the authority to enact its own emission standards for cars, trucks, lawn mowers, and other equipment used daily by Americans. EPA has determined that each of these waivers is a rule under the CRA, and because
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WASHINGTON, June 12 -- The Environmental Protection Agency issued the following news release:
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EPA Fulfills Statutory Obligation by Transmitting Four California Waiver Rules to Congress
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WASHINGTON - Today, in accordance with the Congressional Review Act (CRA), U.S. Environmental Protection Agency (EPA) transmitted four California waiver rules to Congress that have given the state the authority to enact its own emission standards for cars, trucks, lawn mowers, and other equipment used daily by Americans. EPA has determined that each of these waivers is a rule under the CRA, and becauseprevious Administrations failed to transmit them to Congress, as mandated under the CRA, Congress has not been provided with its statutorily required opportunity to review these rules.
"EPA is accountable to Congress, but most importantly we must be accountable to the American people," said EPA Administrator Lee Zeldin. "It is important for EPA to fulfill our statutory obligation to submit these California waivers to Congress for their review pursuant to the law."
EPA is committed to promoting consumer choice and ensuring affordable vehicles for all Americans, while following the best reading of the law. The four rules have prospective, national effects, giving California and the states that adopted the waivers under Clean Air Act section 177 the force of federal law, supplanting EPA authority.
Rules Being Transmitted to Congress
Current National Implication of the Rules
Motor Vehicle Evaporative Emissions and Greenhouse Gas ("Advanced Clean Cars I" (ACC I))
This rule allows California to impose vehicle emissions requirements stricter than federal standards. This has resulted in a push towards electric vehicles across the nation.
Reinstatement of ACC I
Following the Trump Administration revoking ACC I, the Biden EPA reinstated it, allowing California once again to impose costly vehicle emission requirements higher than federal standards.
Small Offroad Engine (SORE) Amendments
This rule imposes costly emission requirements for lawn and garden equipment and has resulted in the push towards electrification of these tools. SORE leaves small businesses, landscapers, and homeowners forced to use expensive and impractical electric tools.
Greenhouse Gas Emission Standards - 2009 and Subsequent Model Years
This rule allows California to enforce strict greenhouse gas standards. Automakers are forced to make a vehicle fit California's standards instead of the federal standards and consumers pay for this through higher vehicle costs.
Background
In early 2025, EPA transmitted to Congress three emission waivers granted to California by the Biden Administration. In June 2025, all three CRA resolutions disapproving the vehicle emission waiver rules were signed into law by President Trump, repealing EV mandates and restoring consumer choice.
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Original text here: https://www.epa.gov/newsreleases/epa-fulfills-statutory-obligation-transmitting-four-california-waiver-rules-congress
Bridging the Homeownership Gap in Wisconsin's Northwoods
CHICAGO, Illinois, June 12 -- The Federal Home Loan Bank of Chicago, a district bank in the Federal Home Loan Bank System, issued the following news:
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Bridging the Homeownership Gap in Wisconsin's Northwoods
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In Michigan's Western Upper Peninsula and Wisconsin's Northwoods region, the path to homeownership presents a unique challenge. While homes may be affordable, the local economy doesn't always provide wages to match, and much of the rental stock has been converted to vacation properties. For Carmen Schipferling, Home Lending Specialist at IncredibleBank, FHLBank Chicago's Downpayment
... Show Full Article
CHICAGO, Illinois, June 12 -- The Federal Home Loan Bank of Chicago, a district bank in the Federal Home Loan Bank System, issued the following news:
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Bridging the Homeownership Gap in Wisconsin's Northwoods
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In Michigan's Western Upper Peninsula and Wisconsin's Northwoods region, the path to homeownership presents a unique challenge. While homes may be affordable, the local economy doesn't always provide wages to match, and much of the rental stock has been converted to vacation properties. For Carmen Schipferling, Home Lending Specialist at IncredibleBank, FHLBank Chicago's DownpaymentPlus (r) (DPP (r) ) Program has become an essential tool for bridging that gap.
"After moving to the area, I saw firsthand how hard it was for families to get into homes," Schipferling said. "DPP has helped open doors for people who never thought homeownership was possible."
IncredibleBank, a community bank with eight lenders serving the country from their offices in Wisconsin, Michigan, and Florida, has leveraged DPP as its primary down payment assistance program since Schipferling first used it in 2016. The program's simplicity and substantial grant amount has made a meaningful difference for first-time homebuyers who might otherwise remain locked out of the market.
Since 2024, the partnership has accelerated, with IncredibleBank helping approximately 30 families achieve homeownership through DPP, most receiving the maximum funding. One story stands out: a single mother raising her three-year-old daughter and teenage sister arrived at closing needing only one dollar to complete her purchase.
"She was in tears," Schipferling recalled. "She said, 'I never thought this would happen. And now here I am buying a house with one dollar.'"
Behind every successful closing is the support of FHLBank Chicago's DPP team. Schipferling credits Community Investment Operations Specialist Kait Decker with going above and beyond-once resolving a critical issue just two days before closing. "She makes us feel well cared for," said Schipferling. "There's never anything too small to ask."
Looking ahead, all IncredibleBank lenders have enrolled in DPP training for 2026, with the goal of offering the program to every qualifying customer. "DPP has become an essential part of how we support first-time homebuyers," Schipferling said. "Our goal is to make sure it's available to as many qualifying families as possible."
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Original text here: https://www.fhlbc.com/news/news-detail/2026/06/10/bridging-the-homeownership-gap-in-wisconsin's-northwoods
