By virtue of the authority vested in me by Title I of the First War Powers Act, 1941, approved December 18, 1941 (Public Law 354, 77th Congress), it is hereby ordered as follows: 1. Transfer of Functions . All functions, powers, and duties of the Farm Credit Administration and of the Governor thereof under the Federal Credit Union Act as amended, (Title 12 U.S.C., 1751-1771) are transferred to the Federal Deposit Insurance Corporation. 2. Transfer of Records, Property, and Personnel . All records and property (including office equipment) and all personnel of the Farm Credit Administration used primarily in the administration of the functions transferred by this order are transferred to the Federal Deposit Insurance Corporation for use in the administration of the functions transferred by this order; but any personnel so transferred who are found by the Federal Deposit Insurance Corporation to be in excess of the personnel necessary for the administration of such functions, powers, and duties shall be retransferred under existing law to other positions in the Government or separated from the service. 3. Transfer of Funds . So much of the unexpended balances of appropriations or other funds available (including those available for the fiscal year ending June 30, 1943) to the Farm Credit Administration in the exercise of the functions transferred by this order, as the Director of the Bureau of the Budget with the approval of the President shall determine, shall be transferred to the Federal Deposit Insurance Corporation for use in connection with the exercise of the functions so transferred. In determining the amount to be transferred the Director of the Bureau of the Budget may include an amount to provide for the liquidation of obligations incurred against such appropriations or other funds prior to the transfer. 4. Effective and Termination Dates . This order shall become effective as of May 16, 1942, and shall continue in force and effect until the termination of Title I of the First War Powers Act, 1941. FRANKLIN D ROOSEVELT The White House, April 27, 1942.
Executive Order 9148—Transferring Credit Union Functions, Records, Property, and Personnel From the Farm Credit Administration to the Federal Deposit Insurance Corporation
Executive Brief • At a Glance
All functions, powers, and duties of the Farm Credit Administration and of the Governor thereof under the Federal Credit Union Act as amended, (Title 12 U.S.C., 1751-1771) are transferred to the Federal Deposit Insurance Corporation. 2.
Plain-English Translation & Framers' Constitutional Analysis
Early Statesman synthesis distilling legal jargon into practical meaning, statutory anchors, and structural constitutional impacts.
Signed by President Franklin D. Roosevelt on April 27, 1942, this order concerns Transferring Credit Union Functions, Records, Property, and Personnel From the Farm Credit Administration to the Federal Deposit Insurance Corporation. Transfer of Functions . All functions, powers, and duties of the Farm Credit Administration and of the Governor thereof under the Federal Credit Union Act as amended, (Title 12 U.S.C., 1751-1771) are transferred to the Federal Deposit Insurance Corporation. 2. Transfer of Records, Property, and Personnel .
Key Directives & Operative Actions
All functions, powers, and duties of the Farm Credit Administration and of the Governor thereof under the Federal Credit Union Act as amended, (Title 12 U.S.C., 1751-1771) are transferred to the Federal Deposit Insurance Corporation. 2.
Transfer of Records, Property, and Personnel .
All records and property (including office equipment) and all personnel of the Farm Credit Administration used primarily in the administration of the functions transferred by this order are transferred to the Federal Deposit Insurance Corporation for use in the administration of the functions transferred by this order; but any personnel so transferred who are found by the Federal Deposit Insurance Corporation to be in excess of the personnel necessary for the administration of such functions, powers, and duties shall be retransferred under existing law to other positions in the Government or separated from the service. 3.
So much of the unexpended balances of appropriations or other funds available (including those available for the fiscal year ending June 30, 1943) to the Farm Credit Administration in the exercise of the functions transferred by this order, as the Director of the Bureau of the Budget with the approval of the President shall determine, shall be transferred to the Federal Deposit Insurance Corporation for use in connection with the exercise of the functions so transferred.
Constitutional & Societal Entities Impacted
Policy Areas & Topics
The Framers' Constitutional Council
1787 PrismEvaluating this order against the constitutional debates of 1787 and the limits of Article II executive power.
"When the President acts in absence of either a congressional grant or denial of authority, he can only rely upon his own independent powers, but there is a zone of twilight in which he and Congress may have concurrent authority."
James Madison
Separation of Powers & Legislative Primacy
"Power is of an encroaching nature, and it ought to be effectually restrained from passing the limits assigned to it." — Federalist No. 48 (1788)
Madison would view this order with watchful scrutiny. Operating in the 'Zone of Twilight' where Congress is silent, each such directive establishes an administrative precedent that steadily expands the executive perimeter at the expense of legislative primacy.
Alexander Hamilton
The Energetic Executive & Unified Command
"The direction of war implies the direction of the common strength; and the power of directing and employing the common strength must be under the direction of the single hand of the Executive." — Federalist No. 74 (1788)
Hamilton would forcefully champion executive discretion here. For foreign entanglements, commerce defense, and national security, deliberative assemblies are too slow and faction-ridden. A unified, energetic Executive exercising swift command is precisely what the Philadelphia Convention intended for national preservation.
George Mason
Bill of Rights, Due Process & 10th Amendment
"The president will be surrounded by flatterers and sycophants... and the great powers of the executive will gradually absorb the liberties of the people." — Cato IV (Anti-Federalist, 1787)
The Anti-Federalist prism advises continuous democratic vigilance. Even routine administrative directives aggregate centralized federal power away from town halls and state assemblies toward a distant executive apparatus.
Five Measurable "Constitutional Friction" Dimensions
An objective audit measuring potential separation-of-powers tension against the United States Constitution and established Supreme Court doctrine.
Legislative Encroachment & Purse
Administers commerce or fiscal programs requiring ongoing statutory delegation and legislative oversight.
Executive Scope & Faithfulness
Exercises standard supervisory executive authority to faithfully execute existing statutes.
Federalism & State Sovereignty
Confined strictly to internal federal jurisdiction, federal property, or direct military command.
Due Process & Individual Rights
Focuses on internal governmental operations with no direct impairment of private rights or property.
Youngstown Jacksonian Tier
The order relies on inherent Article II executive discretion, civil service management, or foreign diplomacy where Congress has neither expressly approved nor prohibited action.
This order operates within Justice Jackson’s Zone of Twilight, resting upon concurrent presidential authority or congressional silence.
Scholarly & Legal Citations
Exec. Order No. 9148 (Apr. 27, 1942), https://executiveordersarchive.org/orders/app-executive-order-9148-transferring-credit-union-functions-records-property-and-personnel.