S. 4655 – Farm Credit Adjustment Act

AI-Generated Summary

Updated June 13, 2026 at 5:50 AM UTC

The bill modifies the Farm Credit Act so the FCA can choose to examine low‑risk Farm Credit System institutions less often—once every two years instead of the standard schedule. This gives the agency flexibility to reduce oversight frequency for institutions it deems low‑risk, beginning on October 1, 2026.

Key Provisions

Amends the Farm Credit Act of 1971 to let the Farm Credit Administration (FCA) extend the mandatory examination interval for low‑risk Farm Credit System institutions to up to 24 months, at the FCA’s discretion.
Changes the wording from “in no event” to “not,” allowing the extension, and sets the amendment’s effective date as October 1, 2026.

Legislative Activity

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1 earlier action

SenateIntro Referral Latest Action

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Agriculture, Nutrition, and Forestry Committee

June 2, 2026

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SenateIntro Referral

Introduced in Senate

June 2, 2026

SenateIntro Referral

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Agriculture, Nutrition, and Forestry Committee

June 2, 2026

Bill Text

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Introduced in SenateIssued June 2, 2026

II

119th CONGRESS

2d Session

S. 4655

IN THE SENATE OF THE UNITED STATES

June 2, 2026

Mr. Cornyn (for himself and Mr. Kaine) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry

A BILL

To allow the Farm Credit Administration the option to examine low-risk Farm Credit System institutions under a 24-month cycle.

1.

Short title

This Act may be cited as the Farm Credit Adjustment Act.

2.

Farm Credit Administration option to examine low risk Farm Credit System institutions on a 24-month cycle

(a)

In general

Section 5.19(a) of the Farm Credit Act of 1971 (12 U.S.C. 2254(a)) is amended in the first sentence—

(1)

by striking in no event and inserting not; and

(2)

by inserting , except that the Farm Credit Administration, in its sole discretion, may extend the time period between mandatory examinations of institutions deemed by the Farm Credit Administration to be low-risk institutions to not more than 24 months before the period.

(b)

Effective date

The amendments made by subsection (a) shall take effect on October 1, 2026.