HR1063119th CongressWALLET

Farm Credit Administration Independent Authority Act

Sponsored By: Representative Finstad

In Committee

Summary

Designates the Farm Credit Administration (FCA) as the sole and independent regulator of the Farm Credit System. It would also create a data-collection and public-disclosure framework requiring Farm Credit System lenders to request and report race, sex, and ethnicity information for small farmers.

Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

New loan data rules for small farmers

If enacted, Farm Credit System lenders would ask small-farmer loan applicants to voluntarily share their race, sex, and ethnicity. Lenders would keep this data and report it to the Farm Credit Administration each year. The FCA would publish only aggregated, non-identifying results each year, and could not require guessing by look or surname. This would apply to applications and loans one year or more after the date of enactment. The bill would also remove FCA-supervised lenders from a related Equal Credit Opportunity Act provision. If that related federal rule for other lenders is overturned or repealed, Farm Credit lenders would not have to follow these new rules; those two changes would take effect upon enactment.

Sponsors & CoSponsors

Sponsor

Finstad

MN • R

Cosponsors

  • Panetta

    CA • D

    Sponsored 2/6/2025

  • Miller (IL)

    IL • R

    Sponsored 2/6/2025

  • Baird

    IN • R

    Sponsored 2/6/2025

  • Fischbach

    MN • R

    Sponsored 2/6/2025

  • Moolenaar

    MI • R

    Sponsored 2/6/2025

  • Self

    TX • R

    Sponsored 2/7/2025

  • Stauber

    MN • R

    Sponsored 2/10/2025

  • Huizenga

    MI • R

    Sponsored 4/24/2025

  • Bergman

    MI • R

    Sponsored 7/15/2025

  • Gray

    CA • D

    Sponsored 9/3/2025

  • Vindman

    VA • D

    Sponsored 9/16/2025

  • Bresnahan

    PA • R

    Sponsored 10/17/2025

  • Barr

    KY • R

    Sponsored 11/17/2025

  • Schmidt

    KS • R

    Sponsored 2/26/2026

Roll Call Votes

No roll call votes available for this bill.

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