Farm Credit Administration Independent Authority Act

Brad Finstad

Republican · MN · Representative

Source: Congress.gov · FEC

• James R. Baird (R-IN-4)Original· 2025-02-06
• Jimmy Panetta (D-CA-19)Original· 2025-02-06
• John R. Moolenaar (R-MI-2)Original· 2025-02-06
• Mary E. Miller (R-IL-15)Original· 2025-02-06
• Michelle Fischbach (R-MN-7)Original· 2025-02-06
• Keith Self (R-TX-3)· 2025-02-07
• Pete Stauber (R-MN-8)· 2025-02-10
• Bill Huizenga (R-MI-4)· 2025-04-24
• Jack Bergman (R-MI-1)· 2025-07-15
• Adam Gray (D-CA-13)· 2025-09-03
• Eugene Simon Vindman (D-VA-7)· 2025-09-16
• Robert P. Bresnahan, Jr. (R-PA-8)· 2025-10-17
• Andy Barr (R-KY-6)· 2025-11-17
• Derek Schmidt (R-KS-2)· 2026-02-26

Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

2025-03-07

Source: Congress.gov

This bill would make the Farm Credit Administration, which oversees lending to farmers and rural businesses, more independent from direct government control. The change would likely give the agency more freedom to set its own policies and operations without as much oversight from Congress or the executive branch, similar to how some other financial regulators operate. Farmers and rural lenders who depend on Farm Credit System loans could see changes in how the agency manages credit availability and lending standards.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 1063 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 1063 To affirm that the Farm Credit Administration is the sole and independent regulator of the Farm Credit System. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 6, 2025 Mr. Finstad (for himself, Mr. Panetta, Mrs. Miller of Illinois, Mr. Baird, Mrs. Fischbach, and Mr. Moolenaar) introduced the following bill; which was referred to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To affirm that the Farm Credit Administration is the sole and independent regulator of the Farm Credit System. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Farm Credit Administration Independent Authority Act''. SEC. 2. FARMER LOAN DATA COLLECTION. (a) In General.--The Farm Credit Act of 1971 (12 U.S.C. 2001 et seq.) is amended by inserting after section 4.19 the following: ``SEC. 4.20. SMALL FARMER LOAN DATA COLLECTION. ``(a) Purpose.--The purpose of this section is to affirm that the Farm Credit Administration is the sole and independent regulator of the Farm Credit System. ``(b) Definition.--In this section, the term `small farmer' means a `small farmer, rancher, or producer or harvester of aquatic products' as defined pursuant to section 4.19. ``(c) Collection of Demographic Data by Farm Credit System Lenders.--Notwithstanding any other provision of law, Farm Credit System institutions, pursuant to regulations promulgated by the Farm Credit Administration, shall-- ``(1) request that loan applicants and borrowers that are small farmers disclose information identifying their race, sex, and ethnicity; ``(2) collect and maintain the information resulting from the requests; and ``(3) report to the Farm Credit Administration on an annual basis the information collected pursuant to the requests. ``(d) Directions to the Farm Credit Administration.--The Farm Credit Administration-- ``(1) shall collect the information gathered by Farm Credit System institutions under this section and make the information available to the public on an annual basis; and ``(2) shall not require, in prescribing regulations to implement this section, that any Farm Credit System institution contradict the wishes of a customer who does not wish to voluntarily report race, sex, or ethnicity by requiring the Farm Credit System institution to report the race, sex, or ethnicity of the customer based on visual observation, surname, or any other method. ``(e) Protection of Personally Identifiable Information.--In reporting the information collected under this section, the Farm Credit Administration shall not include any information that would reveal the identify of any loan applicant or borrower. ``(f) Effective Date.--This section shall apply only to applications received and loans made 1 year or more after the date of the enactment of this section.''. SEC. 3. CONFORMING AMENDMENT. Section 704B(h)(1) of the Equal Credit Opportunity Act (15 U.S.C. 1691c-2(h)(1)) is amended by inserting ``, other than any entity that is supervised by the Farm Credit Administration'' before the period at the end. SEC. 4. CESSATION OF COMPLIANCE. If financial institutions subject to subpart B of part 1002 of title 12, Code of Federal Regulations, are not required to comply with the rule promulgated pursuant to that subpart, whether because a court invalidates the rule or the rule is otherwise repealed, the Farm Credit System institutions shall not be required to comply with any regulation promulgated pursuant to the amendments made by this…

Act. <all>

• HR9055To amend title 38, United States Code, to increase burial and funeral expenses paid by the Secretary of Veterans Affairs in the case of death from a service-connected disability, and for other purposes.
  Referred to Committee · 2026-05-29
• HR9025To designate the facility of the United States Postal Service located at 200 1st Avenue Southeast in Austin, Minnesota, as the "John Madden Memorial Post Office".
  Referred to Committee · 2026-05-26
• HRES1310Expressing support for continued efforts to safeguard Medicare, Medicaid, and other Federal health care programs from fraud, waste, abuse, and improper payments through strengthened program integrity measures, enhanced oversight, and coordinated enforcement actions, and recognizing the work of the Trump administration and congressional Republicans to investigate and prosecute fraud and protect taxpayer dollars and preserve the long-term sustainability of the Nation's health care safety net.
  Referred to Committee · 2026-05-21
• HR8881SBA Artificial Intelligence Utilization Act of 2026
  Reported by Committee · 2026-05-20