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HR 2423 118th Congress House Agriculture and Food

Farm Credit Administration Independent Authority Act

Introduced: July 12, 2023 Introduced by: Finstad, Brad Republican · Minnesota See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 25, 2023
Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
Mar 30, 2023
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.
Mar 30, 2023
Introduced in House
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 Plain-English summary Congressional Research Service

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.

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).

(The bill addresses a proposed rule by the Consumer Financial Protection Bureau [CFPB] that would implement provisions of the ECOA by requiring covered financial institutions, including FCS lenders, to collect and report to the CFPB data on credit applications for small businesses, including the principal owner's race, sex, and ethnicity.)

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. 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.

What's happening now April 25, 2023

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

 Related & companion bills 1
  • HR 8467 Related bill Farm, Food, and National Security Act of 2024
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Lobbying activity 6

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

 Cosponsors 30
All 30 Democratic 5 Republican 22
D
Soto, Darren
Florida · Aug 16, 2024
 R
Fry, Russell
South Carolina · Dec 13, 2023
 D
Blunt Rochester, Lisa
Delaware · Dec 4, 2023
 D
Gonzalez, Vicente
Texas · Dec 4, 2023
 R
Valadao, David G.
California · Nov 30, 2023
Mooney, Alexander
· Nov 29, 2023
 R
Smucker, Lloyd
Pennsylvania · Nov 28, 2023
 R
Moran, Nathaniel
Texas · Nov 17, 2023
 R
Pfluger, August
Texas · Sep 21, 2023
 R
Rogers, Mike D.
Alabama · Sep 21, 2023
 R
Huizenga, Bill
Michigan · Aug 29, 2023
Spanberger, Abigail
· Aug 29, 2023
Duarte, John
· Jul 12, 2023
 R
Alford, Mark
Missouri · Jun 14, 2023
 R
Crawford, Eric A. "Rick"
Arkansas · Jun 7, 2023
 R
Kelly, Trent
Mississippi · Jun 7, 2023
 R
Moolenaar, John R.
Michigan · May 5, 2023
 R
Miller, Mary E.
Illinois · Apr 27, 2023
 R
Langworthy, Nicholas A.
New York · Apr 25, 2023
 R
Jackson, Ronny
Texas · Apr 24, 2023
 R
Baird, James R.
Indiana · Apr 17, 2023
 R
Self, Keith
Texas · Apr 17, 2023
 R
McClain, Lisa C.
Michigan · Apr 13, 2023
 R
Nunn, Zachary
Iowa · Apr 6, 2023
 R
Stauber, Pete
Minnesota · Apr 6, 2023
 R
Bergman, Jack
Michigan · Apr 3, 2023
 R
Moore, Barry
Alabama · Apr 3, 2023
 D
Craig, Angie
Minnesota · Mar 30, 2023
 R
Fischbach, Michelle
Minnesota · Mar 30, 2023
 D
Panetta, Jimmy
California · Mar 30, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2423: Farm Credit Administration Independent Authority Act. 118th Congress. Open America. https://openamerica.io/bill/118-HR-2423/
MLA
"H.R. 2423: Farm Credit Administration Independent Authority Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-HR-2423/.
Bluebook (legal)
H.R. 2423, 118th Cong. (2026), https://openamerica.io/bill/118-HR-2423/.
Markdown link
[H.R. 2423: Farm Credit Administration Independent Authority Act](https://openamerica.io/bill/118-HR-2423/)
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