FHFB Shuns Advice on Delegation

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The final version of a General Accounting Office report on the management structure of the Federal Housing Finance Board, released Friday, recommended that the board increase the participation of all members in administrative decisions affecting it.

The report reiterated the majority of the findings of an early draft obtained by American Banker in January. Among the recommendations was that the board revise the powers delegated to the chairman, who, according to the report, has too much latitude to make major changes without the full board's approval.

It also criticized the handling of recent staff reductions, expressed concern about the strength of the board's …