3.0.0 1063 2026-02-27T09:06:49Z 2026-02-27T09:06:49Z House H HR 2025-02-06 119 https://www.congress.gov/bill/119th-congress/house-bill/1063 [Congressional Record Volume 171, Number 25 (Thursday, February 6, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. FINSTAD:H.R. 1063.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18[Page H556]]]> hsag00 Agriculture Committee House Standing hsag16 General Farm Commodities, Risk Management, and Credit Subcommittee Referred to 2025-03-07T17:20:28Z Referred To 2025-02-06T15:04:25Z hsba00 Financial Services Committee House Standing Referred To 2025-02-06T15:04:30Z 2025-03-07 hsag16 General Farm Commodities, Risk Management, and Credit Subcommittee 1 House committee actions Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit. Committee 2025-02-06 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. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2025-02-06 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. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2025-02-06 Introduced in House IntroReferral Intro-H 9 Library of Congress 2025-02-06 Introduced in House IntroReferral 1000 9 Library of Congress F000475 Rep. Finstad, Brad [R-MN-1] Brad Finstad R MN 1 N P000613 Rep. Panetta, Jimmy [D-CA-19] Jimmy Panetta D CA 19 2025-02-06 True M001211 Rep. Miller, Mary E. [R-IL-15] Mary Miller R IL E. 15 2025-02-06 True B001307 Rep. Baird, James R. [R-IN-4] James Baird R IN R. 4 2025-02-06 True F000470 Rep. Fischbach, Michelle [R-MN-7] Michelle Fischbach R MN 7 2025-02-06 True M001194 Rep. Moolenaar, John R. [R-MI-2] John Moolenaar R MI R. 2 2025-02-06 True S001224 Rep. Self, Keith [R-TX-3] Keith Self R TX 3 2025-02-07 False S001212 Rep. Stauber, Pete [R-MN-8] Pete Stauber R MN 8 2025-02-10 False H001058 Rep. Huizenga, Bill [R-MI-4] Bill Huizenga R MI 4 2025-04-24 False B001301 Rep. Bergman, Jack [R-MI-1] Jack Bergman R MI 1 2025-07-15 False G000605 Rep. Gray, Adam [D-CA-13] Adam Gray D CA 13 2025-09-03 False V000138 Rep. Vindman, Eugene Simon [D-VA-7] Eugene Vindman D VA Simon 7 2025-09-16 False B001327 Rep. Bresnahan, Robert P. [R-PA-8] Robert Bresnahan R PA P. 8 2025-10-17 False B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2025-11-17 False S001228 Rep. Schmidt, Derek [R-KS-2] Derek Schmidt R KS 2 2026-02-26 False Agriculture and Food Agriculture and Food 2025-03-20T18:32:06Z 00 2025-02-06 Introduced in House 2025-03-26T13:48:29Z Farm Credit Administration Independent Authority Act

This bill specifies that the Farm Credit Administration (FCA) is the sole regulator of the Farm Credit System (FCS) and establishes reporting requirements for FCS institutions (i.e., lenders).

Specifically, the bill states that the FCA is the sole and independent regulator of the FCS and exempts entities that are supervised by the FCA from the Equal Credit Opportunity Act (ECOA).

As background, the bill addresses a rule issued by the Consumer Financial Protection Bureau (CFPB) that implements provisions of the ECOA by requiring covered financial institutions, including FCS institutions, to collect and report to the CFPB data on credit applications for small businesses, including the principal owner's race, sex, and ethnicity. This 2023 rule has been challenged in court.

The bill also requires FCS institutions to (1) request that loan applicants and borrowers that are small farmers disclose information identifying their race, sex, and ethnicity; and (2) annually report the collected information to the FCA. The FCA must make the collected information available to the public on annual basis. If an FCS institution customer does not voluntarily report the requested information, the FCA may not require the institution to use other means to deduce the information.

In addition, the bill specifies that FCS institutions shall not be required to comply with the bill's requirements if financial institutions are not required to comply with the CFPB rule due to a court invalidating the rule or a repeal of the rule.

]]> Farm Credit Administration Independent Authority Act Display Title 45 Farm Credit Administration Independent Authority Act 2025-07-17T11:31:08Z Short Title(s) as Introduced 101 Farm Credit Administration Independent Authority Act 2025-03-06T03:08:22Z Introduced in House IH Official Title as Introduced 6 To affirm that the Farm Credit Administration is the sole and independent regulator of the Farm Credit System. 2025-03-06T03:03:37Z Introduced in House IH Introduced in House 2025-02-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119hr1063ih/xml/BILLS-119hr1063ih.xml 2025-03-07 Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.