FCA board approves regulatory burden final notice

McLEAN, Va., Feb. 13, 2025 — At its monthly meeting today, the Farm Credit Administration board approved a final notice on regulatory burden to be published in the Federal Register.

On July 20, 2022, FCA published a notice of intent and request for comment in the Federal Register, inviting the public to comment on FCA regulations that may duplicate other requirements, are ineffective, are not based on law, or impose burdens that are greater than the benefits received.

FCA took this action to continue its efforts to streamline its regulations and make the regulatory environment more efficient so that Farm Credit System institutions can more effectively serve farmers, ranchers, their cooperatives, and other eligible borrowers.

The final Federal Register notice responds to all comments that FCA received in response to the 2022 notice. FCA issues a request for comment on regulatory burden approximately every five years.

Notational votes

Since the Jan. 8 FCA board meeting, five notational votes have occurred. Notational votes are actions the FCA board takes between board meetings.

On Jan. 10, the board voted to increase the maximum civil money penalties that may be imposed under sections 5.32 (a) of the Farm Credit Act of 1971 (12 U.S.C. 2268) and the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012 a (f)). FCA adjusts these penalties annually.

On Jan. 23, the board approved a personnel action. On Jan. 27, the board approved a personnel action.

On Feb. 12, the board voted to approve an amendment to FCA Board Policy Statement 64 — Rules for the Transaction of Business of the FCA Board.

Also on Feb. 12, the board voted to approve the updated FCA Board Policy Statement 62 — Equal Employment Opportunity.