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New Rules for Small Farmer Loan Data Collection

This act aims to confirm the Farm Credit Administration as the sole and independent regulator of the Farm Credit System. It introduces a requirement for lenders to collect demographic data (race, sex, ethnicity) from small farmer loan applicants, but only with their voluntary consent. The collected data will be made public annually, ensuring individual privacy.
Key points
The Farm Credit Administration will be the sole regulator of farmer loans, ensuring consistent oversight.
Lenders will ask small farmers for demographic data, but reporting is voluntary.
Collected data will be public for analysis, but individual identities will remain private.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1063
Sponsor: Rep. Finstad, Brad [R-MN-1]
Process start date: 2025-02-06
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Summarized by: gemini-2.5-flash
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 119_HR_1063.

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 2025-02-06.

What are the main provisions?

Key points include:

  • The Farm Credit Administration will be the sole regulator of farmer loans, ensuring consistent oversight.
  • Lenders will ask small farmers for demographic data, but reporting is voluntary.
  • Collected data will be public for analysis, but individual identities will remain private.
What is the specific legal status?

The current status is Introduced.

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 2025-12-22.

CATEGORIES

Agriculture Economy