Search Results for keywords:"Farm Credit Administration"

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Search Results: keywords:"Farm Credit Administration"

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  • 2021-01796 — Rules of Practice and Procedure; Adjusting Civil Money Penalties for Inflation
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    Type:Rule
    Citation:86 FR 7235
    Reading Time:about 10 minutes

    The Farm Credit Administration (FCA) has implemented a rule to adjust civil money penalties (CMPs) for inflation. This adjustment is required annually by law to maintain the penalties' effectiveness as a deterrent. The penalties are related to violations under the Farm Credit Act and the Flood Disaster Protection Act. The new penalty amounts are $2,395 for certain violations of the Farm Credit Act and $2,252 for flood insurance-related violations, effective from January 15, 2021. These changes do not require public notice or comments because they are mandatory and noncontroversial.

    Simple Explanation

    The Farm Credit Administration changed the fine amounts for breaking certain rules to keep them fair and updated with money value changes; now, if someone breaks the rules, they have to pay $2,395 or $2,252, depending on what they did wrong.

  • 2025-00963 — Rules of Practice and Procedure; Adjusting Civil Money Penalties for Inflation
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    Type:Rule
    Citation:90 FR 3617
    Reading Time:about 10 minutes

    The Farm Credit Administration has introduced a final rule adjusting civil money penalties (CMPs) for inflation, in line with the Federal Civil Penalties Inflation Adjustment Act of 1990, as updated. This adjustment ensures that penalties retain their deterrent effect and compliance is maintained with the Farm Credit Act and Flood Disaster Protection Act. The new maximum daily penalties for specific violations have been increased, such as $2,904 for violating a final order and $1,313 for breaching the Farm Credit Act, effective January 15, 2025. These changes, driven by mandatory annual updates, aim to keep CMPs in line with inflation without needing a public comment process.

    Simple Explanation

    The Farm Credit Administration has made some money fines bigger, like, if someone breaks a rule, they have to pay more money to keep the rules important. They did this because prices keep going up, just like when your favorite toy costs more now than before.

  • 2025-03172 — Statement on Regulatory Burden
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    Type:Rule
    Citation:90 FR 11013
    Reading Time:about 31 minutes

    The Farm Credit Administration (FCA) has released a document addressing comments about reducing regulatory burdens on Farm Credit System (FCS) institutions, such as the Federal Agricultural Mortgage Corporation. It explains the FCA's response to feedback received about rules considered unnecessary or burdensome. Key points discussed include changes needed for accounting practices and reporting requirements, and some suggestions that align with ongoing regulatory projects. The FCA also mentions willingness to evaluate certain comments further and emphasizes its commitment to maintaining necessary regulations to ensure safety and soundness while reducing unnecessary burdens.

    Simple Explanation

    The Farm Credit Administration is like a coach for banks that help farmers, and they're trying to make the rules less complicated for these banks so that both the banks and farmers can focus on doing well. They're figuring out which rules are a bit too much and are asking people what they think, but their explanations are sometimes hard to understand, like a puzzle with too many pieces.