HR 1063
Farm Credit Administration Independent Authority Act
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- Passed House
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Bill overview
This bill aims to solidify the Farm Credit Administration’s (FCA) authority as the sole regulator of the Farm Credit System. It requires Farm Credit System lenders to collect demographic data – including race, sex, and ethnicity – from small farmers and report this information annually to the FCA, which will then make it publicly available. The bill also seeks to limit the FCA’s ability to compel reporting when customers opt out, and exempts Farm Credit System institutions from certain requirements if the underlying regulations are invalidated.
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