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Easier Oversight for Low-Risk Farm Credit Lenders

New rules allow the agency overseeing farm loans to inspect low-risk institutions less frequently. This aims to reduce administrative burdens for these institutions, potentially leading to a more efficient financial support system for farmers.
Key points
The Farm Credit Administration can now examine low-risk farm credit institutions every 24 months instead of more frequently.
This change simplifies procedures for stable institutions, potentially making financial support for agriculture more efficient.
The new rules will take effect on October 1, 2024.
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Additional Information
Print number: 118_HR_6564
Sponsor: Rep. Spanberger, Abigail Davis [D-VA-7]
Process start date: 2023-12-01
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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 Adjustment Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6564.

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 2023-12-01.

What are the main provisions?

Key points include:

  • The Farm Credit Administration can now examine low-risk farm credit institutions every 24 months instead of more frequently.
  • This change simplifies procedures for stable institutions, potentially making financial support for agriculture more efficient.
  • The new rules will take effect on October 1, 2024.
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. Spanberger, Abigail Davis [D-VA-7].

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 2025-12-25.

CATEGORIES

Agriculture Economy