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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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Status:
Expired
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Additional Information
Print number: 118_HR_2423
Sponsor: Rep. Finstad, Brad [R-MN-1]
Process start date: 2023-03-30
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

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.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Agriculture Economy