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New rules for farmer data collection and independent farm credit regulator.

This act aims to affirm the Farm Credit Administration (FCA) as the sole and independent regulator of the Farm Credit System. It also introduces a requirement for collecting demographic data (race, sex, ethnicity) from small farmers applying for loans, with the condition that providing this information is voluntary and privacy is protected.
Key points
The Farm Credit Administration (FCA) is affirmed as the sole and independent regulator of the Farm Credit System.
Farm Credit System lenders will request demographic data (race, sex, ethnicity) from small farmer loan applicants, but providing this information is voluntary.
Collected data will be made publicly available by the FCA on an annual basis, without revealing the identity of any loan applicant or borrower.
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Additional Information
Print number: 118_HR_2423
Sponsor: Rep. Finstad, Brad [R-MN-1]
Process start date: 2023-03-30
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Farm Credit Administration Independent Authority Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2423.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-30.

What are the main provisions?

Key points include:

  • The Farm Credit Administration (FCA) is affirmed as the sole and independent regulator of the Farm Credit System.
  • Farm Credit System lenders will request demographic data (race, sex, ethnicity) from small farmer loan applicants, but providing this information is voluntary.
  • Collected data will be made publicly available by the FCA on an annual basis, without revealing the identity of any loan applicant or borrower.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Finstad, Brad [R-MN-1].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Agriculture Economy