Farm Credit Administration Independent Authority Act

Hozzl · 2025-03-20T18:32:06Z

Explore the details of House Bill 1063 Farm Credit Administration Independent Authority Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Agriculture and Food. Stay informed on legislative developments.

3/20/2025, 6:32 PM

Summary of Bill HR 1063

Bill 119 HR 1063, also known as the "Farm Credit System Regulatory Modernization Act of 2021," aims to clarify and affirm the Farm Credit Administration (FCA) as the sole and independent regulator of the Farm Credit System. The Farm Credit System is a nationwide network of borrower-owned lending institutions that provide credit and financial services to farmers, ranchers, and agricultural cooperatives.

The bill seeks to ensure that the FCA has the authority and autonomy to regulate and oversee the Farm Credit System without interference from other federal agencies. This includes the ability to establish regulations, conduct examinations, and enforce compliance with laws and regulations governing the System.

By affirming the FCA as the primary regulator of the Farm Credit System, the bill aims to streamline regulatory oversight and promote consistency in the supervision of these important agricultural lending institutions. This will help to ensure the safety and soundness of the System, protect the interests of borrowers and investors, and promote the stability of the agricultural sector. Overall, Bill 119 HR 1063 seeks to strengthen the regulatory framework governing the Farm Credit System and enhance the FCA's ability to fulfill its mission of supporting rural communities and agriculture through reliable and affordable credit.

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Current Status of Bill HR 1063

Bill HR 1063 is currently in the status of Bill Introduced since February 6, 2025. Bill HR 1063 was introduced during Congress 119 and was introduced to the House on February 6, 2025. Bill HR 1063's most recent activity was Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit. as of March 7, 2025

Bipartisan Support of Bill HR 1063

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 1063

Primary Policy Focus

Agriculture and Food

Alternate Title(s) of Bill HR 1063

To affirm that the Farm Credit Administration is the sole and independent regulator of the Farm Credit System.To affirm that the Farm Credit Administration is the sole and independent regulator of the Farm Credit System.

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