US HB1063

Affirms the Farm Credit Administration (FCA) as the sole and independent regulator of the Farm Credit System, amending the Farm Credit Act of 1971

Requires Farm Credit System institutions to collect demographic data (race, sex, ethnicity) from small farmer loan applicants and borrowers, and report this information annually to the FCA

Protects borrower privacy by prohibiting disclosure of personally identifiable information and ensuring demographic reporting remains voluntary—lenders cannot guess or observe a customer's demographics if they decline to self-report

Exempts Farm Credit System entities from the Equal Credit Opportunity Act's small business lending data collection requirements under Section 704B(h)(1)

Includes a contingency provision: if other financial institutions are released from compliance with related federal data collection rules (12 CFR part 1002, subpart B), Farm Credit System institutions would also be released from these requirements