HR 3811 · 99th Congress · Agriculture and Food

Farm Credit Borrower Protection Act of 1985

Introduced 1985-11-21· Sponsored by Rep. Evans, Cooper [R-IA-3]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Unfavorable Executive Comment Received From Farm Credit Admin.(1986-01-30)

Plain Language Summary

[AI summary unavailable — showing source text] Farm Credit Borrower Protection Act of 1985 - Amends the Farm Credit Act of 1971 to require Farm Credit System institutions to disclose borrower information regarding annual loan costs and payments, variable interest rates, and defaults. Directs the Farm Credit Administration to prescribe regulations relating to variable interest rates on loans from System institutions. Provides, with regard to an adverse credit decision, that: (1) the applicant shall be given written notice and explanation of such decision; and (2) System institutions shall establish credit committees to review, upon applicant request, adverse credit decisions.…

Summarized by Claude AI · Non-partisan · For informational purposes only