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Farm Credit Administration Final Rule on Business Planning Requirements

The Farm Credit Administration (FCA) issued a final rule amending business planning requirements for Farm Credit System institutions. This rule removes provisions related to diversity and inclusion assessments in business plans, aligning with Executive Order 14219.

FCA Proposed Rule on Permanent Capital Revisions

The Farm Credit Administration (FCA) has proposed a rule to revise how permanent capital is calculated for Farm Credit System banks and associations. The proposal aims to reduce regulatory burden and confusion by removing references to permanent capital in certain reporting and safety and soundness regulations, and simplifying its calculation.

FCA Review of Second Charge Mortgages

The FCA has reviewed second charge mortgage intermediaries and lenders, identifying examples of good and poor practices. The review focused on advice, fees, charges, and affordability assessments. Firms are expected to review their practices to ensure they meet Consumer Duty standards.

FCA: Second Charge Mortgage Firms Need Higher Standards

The FCA has issued a notice to second charge mortgage firms highlighting weaknesses in advice, affordability assessments, and fee transparency. The regulator is calling for firms to raise standards to protect consumers, particularly those consolidating debt, and will continue to monitor the market.