National Urban League Celebrates Senate's Historic Confirmation of Sandra Thompson to Head the FHFA

Washington, D.C. (May 27, 2022) — Today, Marc H. Morial, President and CEO of the National Urban League, released the following statement after the United States Senate confirmed Sandra Thompson to serve as Director of the Federal Housing Finance Agency (FHFA), making her the first Black woman in the agency’s history to serve in this role:

“Sandra Thompson’s impressive credentials and expertise make her well-suited to be our nation’s next FHFA Director. While serving in her current role as Acting FHFA Director, Thompson has undertaken efforts to better ensure that Government Sponsored Entities (GSEs) work to address the many longstanding fair lending and racial inequities embedded in our nation’s housing finance system. Moreover, she played a crucial role in the FHFA’s issuance of two important policies in recent months—a FHFA Policy Statement on Fair Lending and the establishment of a Memorandum of Understanding (MOU) with the U.S. Department of Housing and Urban Development to better enforce existing fair housing and lending laws.

“Communities of color in the United States have disproportionately shouldered the financial and housing insecurity challenges brought about by the COVID-19 pandemic. These very communities have faced barriers accessing the credit opportunities they need to build wealth despite the passage of federal fair lending laws. The harsh economic realities in communities of color nationwide are a vestige of our nation’s long and unfortunate history of discrimination, redlining, and disinvestment, and the market failures that continue to leave the most vulnerable communities in America underserved. 

“We are confident that Thompson will bring her experience as a dedicated public servant to bear in her new role as she works to fulfill the FHFA’s mission to ensure that Americans have equal opportunity to the American Dream of homeownership and financial security, including ensuring that families have adequate access to pre-purchase housing counseling assistance services during the home-buying process.

“We commend President Biden and the U.S. Senators that voted in favor of Ms. Thompson’s confirmation for their commitment to ensuring that leadership at the highest levels of our nation’s central bank reflects the rich diversity of all Americans.”